YZi Labs Initiates $1 Billion Fund Amid Record BNB Token Surge
YZi Labs, founded by Changpeng Zhao, introduces a significant funding initiative for BNB ecosystem builders as the token reaches new heights.
YZi Labs, a venture capital entity established by Binance co-founder Changpeng “CZ” Zhao, is rolling out a $1 billion fund dedicated to supporting developers in the BNB ecosystem as the token surges to new records.
The announcement occurred recently, emphasizing the fund’s objective to bolster builders on the BNB Chain. “The BNB ecosystem marks the upcoming evolution of digital infrastructure, merging decentralization with on-chain scaling, security, and distribution,” stated YZi Labs head, Ella Zhang.
The timing of this initiative coincides with BNB’s status as the third-largest cryptocurrency by market capitalization, having added a remarkable $40 billion in value in October alone.
YZi Labs: A Strong Supporter of the BNB Ecosystem
Previously known as Binance Labs, YZi Labs has significantly contributed to the development of the BNB ecosystem, backing numerous projects, including the Binance-associated decentralized exchange, PancakeSwap.
The firm has also supported ListaDAO, a DeFi protocol, the Aspecta blockchain project, and Aster, a decentralized exchange recently delisted by DefiLlama.
BNB Ecosystem funding by YZi Labs. Source: YZi Labs
Additionally, YZi Labs is enhancing institutional engagement with BNB through various projects such as the BNB Digital Asset Treasury (DAT) and the Real-World Asset (RWA) fund.
$1 Billion Fund for Diverse Sectors
The fund is aimed at various sectors including DeFi, RWA, AI, and decentralized science (DeSci), as well as BNB Chain-based payment solutions and wallets. The leading accelerator for BNB Chain, Most Valuable Builder (MVB), will be integrated into YZi Labs’ Easy Residency global incubation initiative, which will provide dedicated support for BNB builders.
“We seek early-stage founders committed to long-term visions, with demonstrable capabilities in execution and a solid product-market fit,” commented a YZi spokesperson.
Although YZi Labs manages over $10 billion in global assets, it also reportedly oversees significant holdings for co-founders CZ and Yi He, amid debate regarding its operational structure.
With BNB achieving significant highs and CZ’s wealth projected at approximately $116 billion based on his BNB holdings, the firm is poised to make a considerable impact on the cryptocurrency landscape.
