Binance Labs is rebranding to YZi Labs and becoming an independent organization, allowing former Binance CEO Changpeng “CZ” Zhao to take an active role.
The news was shared with BeInCrypto through an exclusive press release.
CZ To Join the Rebranded Binance Labs
Binance founder Changpeng “CZ” Zhao was handed a prison sentence last year, only to be released back in September 2024. However, as a part of his release agreement, CZ received a lifetime ban from working at Binance.
Since his release, the former CEO has focused on education and charity, but this might be changing. Binance Labs is rebranding to YZi Labs and becoming an independent firm, allowing CZ to return,
“Rebranding to YZi Labs is more than a name change—it signifies an expanded vision as we broaden our horizons to include transformative sectors like AI and biotech. We’re thrilled to welcome Ella Zhang back to lead this next phase. Her expertise and vision were instrumental in shaping the organization’s early success,” CZ said.
Ella Zhang was the head of Binance Labs from 2018 to 2020, cofounding the research arm with CZ. Zhang left to become an independent entrepreneur in 2020 but is now returning. She stated that YZi will expand its research into AI and biotech, unlike Binance Labs.
Binance’s current CEO, Richard Teng, actually alluded to these changes in 2024. He claimed that Binance Labs would rebrand in the near future, and that CZ would be “back in action” in some capacity.
CZ maintained an influential presence in the broader crypto space as a private individual, but he is once again adding his voice to a larger project.
Ultimately, it’s unclear what role CZ will actually play at YZi Labs. The press release noted his “hands-on approach” that suggests an important daily function and claimed he will “play a pivotal role in investment activities.”
Ella Zhang will occupy the leadership position, but CZ’s role could still be very broad-reaching.
Overall, all these plans do ignore one key elephant in the room – Binance’s continuing struggles with US law enforcement. Even if YZi Labs is nominally an independent entity from Binance, CZ still received a lifetime ban.
The firm is a clear spinoff staffed by Binance associates, and it will even continue funding BNB Chain’s MVB program. This fig leaf may not withstand scrutiny.
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