Binance Labs Rebrands to YZi Labs, Appoints Changpeng Zhao to Key Leadership Role

Jakarta, Pintu News – The investment firm previously known as Binance Labs has announced a rebranding to YZi Labs. Along with the name change, YZi Labs unveiled plans to expand its investments into new sectors and appointed former Binance CEO, Changpeng “CZ” Zhao, to a key leadership role within the company.

Rebranding Binance Labs to YZi Labs

In a blog post, YZi Labs (formerly Binance Labs) shared that the name change was part of a broader strategy to distance itself from the Binance name as the company expands its investment focus. YZi Labs revealed that it plans to broaden its investments beyond just cryptocurrency and blockchain to include artificial intelligence and biotechnology sectors. The company reaffirmed its commitment to advancing Web3 innovations.

YZi Labs also noted that the rebranding became necessary following Changpeng Zhao’s resignation from his role as CEO of Binance. The company stated that it was “only natural” for YZi Labs to move away from the Binance name, given this change in leadership. Under the new structure, Zhao will continue to play a pivotal role in the investment activities of the company, directly engaging with founders and offering guidance and mentorship.

Plans for the Upcoming Year

In the coming year, YZi Labs (formerly Binance Labs) plans to focus its investments on Web3, AI, and biotechnology. The company also aims to explore innovations at the intersection of these fields. YZi Labs emphasized that it remains committed to supporting projects with long-term potential and fostering innovations that could drive the next wave of growth in the industry, regardless of market cycles or trends.

Conclusion

Changpeng Zhao commented on the rebranding in a blog post, stating, “New year, new era, new name.” Despite his resignation from Binance, Zhao remains an active figure in the cryptocurrency world. He recently teased the idea of purchasing Bitcoin when the price of the leading crypto asset dropped below $100,000 last week.

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References:

• Coingape. Binance Labs Rebrands to YZI Labs, Names Changpeng Zhao in Key Role. Accessed 24 Januari 2025
• Featured Image: coindesk.com