Overview

Binance Labs, the previous investment division of Binance, has undergone a substantial transformation under a new label, YZi Labs, with former CEO Changpeng “CZ” Zhao becoming actively involved in operations.

Key Points

• Rebranding: Binance Labs is now known as YZi Labs, evolving from being a venture capital arm into the family office of CZ and Binance co-founder Yi He.

• Investment Strategy: Under CZ’s leadership, the focus will expand to include sectors like artificial intelligence and biotechnology, in addition to web3 innovations.

• Legal Background: Last year, CZ faced a four-month prison sentence related to violations of the Bank Secrecy Act (BSA), resulting in his stepping down from the CEO position at Binance, following a plea deal.

Additional Information

YZi Labs aims to engage directly with startups and provide mentorship to catalyze growth in various industries.

Read more: Freed From Prison, Binance Founder CZ Discusses New Ventures