Binance Holdings gave its investment branch, Binance Labs, a new name, YZi Lab, when Changpeng Zhao, the leader and founder, shifted the company to a family office and stayed in charge. With this change, YZi Labs is moving forward with two key goals: They are broadening their investment portfolio to look more at businesses that help society and the environment.
CZ Zhao will oversee the new YZi Labs brand by merging with his Co-Founder Ella Zhang’s company. After helping create Binance Labs in 2018, Ella Zhang grew five important crypto networks: Polygon, Injective, Dune Analytics, Certik, and SafePal.
The announcement explained that YZi Labs wants to move beyond its traditional focus on crypto and blockchain technology, aiming to support growing areas like AI, web3 technologies, and biotech. Zhao, who stepped down as Binance CEO last year, wants to focus his new investments more on the positive effects they bring instead of making large profits.
CZ Returns To Lead YZi Labs’ New Mission
After a difficult time, CZ came back to work in the field. Following his deal with American authorities in late 2023, CZ spent four months in a California jail and came out on September 27, 2024. Right after being discharged from prison, Zhao announced on X his desire to spend time running projects that build a better world and make the Giggle Academy happen.
These new aims led YZi Labs to update its incubation program. The company wants to bring back its project founder residency program and offer personal guidance and support for their work.
YZi Labs will keep developing and boosting the 250 projects it supports as part of its transition. CZ still plays a big leadership role in crypto and tech companies, regardless of how much Binance separates from its investment branch.
When Zhao went to jail, Binance Holdings started planning its exit from its venture capital unit. YZi Labs emerged from Binance Labs’ rebranding because it better fits Zhao’s vision of himself and his future work.
YZi Labs’ reforms match those of many venture capital firms, moving their investment funds into different types of businesses. As YZi Labs steps up its investment in AI, biotech, and Web3 developments, the company wants to establish itself as the leader in creating new technologies across these fields.
How YZi Labs is modifying its plans to enter new markets shows CZ’s lasting power to shape what his company does and where it goes as crypto rules change and financial markets move.
