- Binance’s $10B venture arm rebrands as YZi Labs, pivoting to AI and biotech while maintaining Web3 focus.
- CZ advises YZi Labs post-prison, guiding AI/biotech bets despite Binance leadership ban per U.S. settlement.
Binance Labs, the $10 billion venture capital division of cryptocurrency exchange Binance, has adopted a new identity. The firm now operates as YZi Labs, according to an official announcement. The rebranding reflects a strategic shift to diversify investments beyond blockchain and crypto, targeting sectors like artificial intelligence (AI) and biotechnology.
YZi Labs will retain its Web3 investment focus but expand into AI and biotech, signaling a broader vision. The move aims to establish the firm as an independent entity separate from Binance. Existing portfolio companies will maintain access to resources and support, the company confirmed.
“While continuing its dedication to advancing Web3 technologies, YZi Labs will now also explore opportunities in artificial intelligence (AI) and biotechnology, underscoring its commitment to fostering innovation across multiple industries.”
Changpeng “CZ” Zhao, Binance’s founder, will serve as an advisor to YZi Labs despite his ongoing legal restrictions. CZ, who received a four-month prison sentence earlier this year for violating U.S. anti-money-laundering laws, cannot resume leadership roles at Binance.
However, he will mentor startups and shape YZi Labs’ strategy. Former Binance Labs head Ella Zhang returns to lead the rebranded firm.
The decision to rebrand follows Binance’s efforts to restructure after its $4.3 billion settlement with U.S. authorities in 2023. YZi Labs’ pivot aligns with growing interest in AI and biotech among investors. Zhang emphasized continuity in the firm’s mission, stating:
“Our goal remains unchanged: to support founders who drive technological progress across industries.”
YZi Labs’ expansion mirrors trends in venture capital, where firms increasingly diversify beyond crypto amid regulatory and market pressures. The biotech and AI sectors attracted over $40 billion in global venture funding in 2023, according to industry reports.
By entering these fields, YZi Labs positions itself to capitalize on emerging opportunities while mitigating risks tied to crypto volatility.
The rebranding raises questions about Binance’s long-term strategy. While YZi Labs gains autonomy, its ties to Binance remain through shared leadership and CZ’s advisory role. Analysts note that distancing from the Binance brand could help attract partnerships wary of regulatory scrutiny surrounding the exchange.
For now, YZi Labs faces the dual challenge of new identity and proving its ability to compete in non-crypto sectors. Its success may hinge on leveraging CZ’s industry influence and Zhang’s experience in scaling early-stage projects. As the firm charts its course, stakeholders will monitor its first investments in AI and biotech for signals of its competitive edge.
As of the latest available data by ETHNews, the price of Binance Coin (BNB) is approximately $686.45 to $688.90 USD. The token shows a slight variation in price across different platforms, indicating active trading and some volatility in the market.
BNB has maintained a strong presence in the cryptocurrency market with a significant trading volume of around $2.28 billion USD in the last 24 hours. It holds a market capitalization nearing $95 billion USD, underscoring its substantial role in the digital asset market.
