Binance Labs Rebrands to YZi Labs with CZ Leading Investment Activities
Binance Labs has rebranded to YZi Labs, transitioning from the exchange's venture capital arm to a family office for Changpeng "CZ" Zhao and co-founder Yi He. The change marks a shift in focus, with CZ actively engaging in investment activities and mentorship.
Key points:
- YZi Labs expands investment areas to include artificial intelligence and biotech.
- The firm was spun off from Binance last year.
- CZ previously served as CEO of Binance, stepping down after a prison sentence related to KYC violations.
- Zhao was fined $50 million and released from prison in September.