Binance Labs, the venture capital and incubation arm of cryptocurrency exchange Binance, announced a major rebranding yesterday. It will now operate independently under the new name YZi Labs, shifting its focus to Web3, artificial intelligence (AI), and biotechnology investments.
CZ Remains a Key Influence
Despite the rebrand, Binance founder Changpeng Zhao (CZ) will continue to play a pivotal role at YZi Labs through direct engagement and strategic guidance. Notably, Ella Zhang, co-founder of Binance Labs, is returning to lead YZi Labs as its head.
- Ella Zhang's legacy: During her initial tenure (2018–2020), Binance Labs incubated over 40 startups, including high-profile projects like Polygon, Injective Protocol, and CertiK.
- New chapter: Zhang emphasized that YZi Labs’ mission remains unchanged: empowering founders committed to long-term innovation.
YZi Labs as a Family Office
According to Bloomberg, YZi Labs now operates exclusively as CZ’s family office, distancing itself from Binance’s corporate structure. Its portfolio, valued at over **$10 billion**, primarily consists of crypto assets from incubated projects—potentially surpassing Andreessen Horowitz’s (a16z) $7.6 billion fund size.
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Expanded Investment Focus
YZi Labs will broaden its scope beyond Web3 to include:
- AI (e.g., decentralized machine learning platforms)
- Biotech (e.g., blockchain applications in genomics)
CZ stated:
This rebrand symbolizes our vision—expanding from blockchain into AI and biotech to drive cross-industry innovation.
Ongoing Initiatives
- The 12-week incubation program will resume, offering founders collaborative resources.
- Existing projects (e.g., BNB Chain’s MVB Program) remain unaffected.
FAQs
Q: Why did Binance Labs rebrand?
A: The shift to YZi Labs reflects CZ’s post-Binance career focus and independence from the exchange’s branding.
Q: Will YZi Labs sell its crypto holdings?
A: No immediate plans. The $10B portfolio fuels long-term investments in Web3, AI, and biotech.
Q: How does this impact Binance?
A: YZi Labs operates separately; Binance retains its VC activities under other entities.