Fresh out of prison, Changpeng Zhao, known as CZ Binance or CZ BNB, is now valued at $70 billion and has founded YZi Labs. He is reforming Binance Holdings, a previous venture capital arm, into a family office. As per the recent announcement on January 23rd, Binance Labs, which oversees billions in crypto assets, is being rebranded as YZi Labs.

CZ has brought back Ella Zhang, the original founder of Binance Labs in 2018, as the head of this new venture. YZi Labs will also manage the wealth of Yi He, co-founder of Binance and CZ’s partner, along with their three children.

CZ’s Image

CZ’s journey from early life challenges in Jiangsu, China, to his $70 billion success includes stints working at McDonald’s and studying computer science at McGill University after moving to Canada. He began his crypto career in 2013 after selling his apartment to invest in Bitcoin during a poker game, coining the mantra: “If you can’t hold, you won’t be rich.”

“If you can’t hold, you won’t be rich.”
— CZ 🔶 BNB (@cz_binance) February 10, 2021

In 2017, CZ launched Binance and it quickly rose to global prominence. However, following legal troubles in 2023, which included fraud and money laundering allegations, he faced a four-month prison sentence in 2024.

After his release, CZ expressed a desire to focus on investments that prioritize impact over mere returns and mentioned that his non-profit initiative, Giggle Academy, would be significant in his future. YZi Labs aims to invest in AI and DeSci projects, with plans for an expanded team. CZ retains a crucial stake in Binance Holdings as a central asset.