Former Binance CEO Changpeng “CZ” Zhao has rebranded Binance Labs to YZi Labs, focusing on investments in artificial intelligence and biotechnology. That strategic shift has arrived after being released from US custody and a fine of $50 million. The new firm will manage $10 billion in assets to expand beyond cryptocurrencies into cutting-edge technologies.
YZi Labs: A New Direction
YZi Labs, named after CZ and Binance co-founder Yi He, is now transforming from a crypto venture capital company into a family office. The firm will invest in AI, biotech, and blockchain projects, with checks ranging from €500,000 to €50 million in size. All operations will be led by the former head of Binance Labs, Ella Zhang.
CZ underlined his focus on long-term impact over financial returns. “I am a long-term investor that cares about impact, not returns,” he said.
CZ’s Vision After Prison
Having served his four-month sentence and paid the fine of $50 million, CZ has outlined life after prison. He wants to drive technological innovation in social impact in education in particular. His non-profit, Giggle Academy, offers free gamified learning to children.
He also shared that he is working on a book, which is two-thirds done. Although he resigned as the CEO of Binance, he still has large shares in the company, so his presence in decisions regarding the direction it takes can be felt.
Expanding Beyond Crypto
YZi Labs will diversify its portfolio and invest in AI and biotech startups. The firm will also bring on specialists in those areas, expanding the team from nine to 20 people. That comes as broader industry trends have seen crypto investors increasingly turning toward AI in recent times.
The investments by CZ can grow the sectors vastly. His fortune of $69.8 billion, mostly tied to Binance, makes him someone of very strong influence in tech innovation.
CZ rebranded Binance Labs to YZi Labs, meaning a step toward AI and biotech is strategic. While fighting battles over legality, one can still show a focus on impactful investments in education for a long-term commitment to innovation
