Binance Holdings gave a new name “Yzi Lab” when leaders and founder Zhao Changpeng shifted the company to a family office and continued to be responsible for the Investment Division, Binance Lab. With this change, Yzi Labs is moving forward to two important goals. It is to expand your investment portfolio and focus on businesses that are useful for society and the environment.
CZ Zhao will supervise the new Yzi Labs brand by merging with the co -founder Ella Zhang’s company. After supporting the establishment of Binance Labs in 2018, Ella Zhang has grown five important cipher networks: Polygon, Injective, Dune Analytics, Certik and Safepal.
of announcement YZI Labs explained that it aims to support the growth fields such as AI, Web3 technology, and biotechnology, beyond the focus on conventional cryptocation and blockchain technology. Chao, who resigned as a Binance CEO last year, wants to focus on the positive effects of it, rather than raising a large profit of new investment.
CZ returns to lead a new Mission of Yzi Labs
After a difficult time, CZ returned to work on site. After agreement with the United States authorities in late 2023, CZ spent four months with the police. California Prison Immediately after being released from prison, Chao announced his desire to build a better world and spend time to implement a Gigle Academy project.
With these new goals, Yzi Labs has updated the incubation program. The company wants to revive the resident program of the project founder and provide personal guidance and support for their work.
Yzi Labs will continue to develop and strengthen 250 projects supported as part of the migration. Regardless of how much Binance is far from the investment department, CZ still plays a major leading role in cryptocurrency and technology companies.
When Zhao entered prison, Binance Holdings began planning to withdraw from the venture capital category. Yzi Labs is Binance labThe brand change is better for Zhao’s own vision and future work.
The reform of Yzi Labs matches the reforms of many venture capital companies, transferring investment funds to various types of businesses. Yzi Labs wants to establish a status as a leader who creates new technology throughout these fields as AI, biotechnology, and Web3 development.
How YZI Labs has changed the plan for entering the new market is the permanent power of CZ to form the company’s business and future direction. Change of cryptocurrency rules and financial markets It moves.
