Changpeng Zhao, Binance cofounder and its former chief executive, frequently known in the cryptocurrency community as CZ, has taken to social media to highlight the rebranding of Binance Labs.
CZ also stated that there will be “new leadership,” which at the same time will be “old one.” CZ will take an active advisory role.
Binance Labs rebranding
For the second time this week, Changpeng Zhao has spread the word about Binance Labs rebranding to YZi Labs with top executive Ella Zhang, who took an active part in founding the initial company, returning as the head of the new, rebranded one.
Also, new leadership!
Or, depending on perspective, old leadership. Ella has been instrumental in founding Labs in the first place. She led key investments that not only generated high yields, but also shaped the industry, including Polygon, Injective Protocol, CertiK, Dune… https://t.co/RZ9Bsg94ps
— CZ 🔶 BNB (@cz_binance) January 24, 2025
Zhao reminded his X followers that Zhang led primary investments that “not only generated high yields, but also shaped the industry.” Those projects include Polygon, CertiK, Kava, SafePal wallet, etc – more than 40 startups in all.
CZ, who will continue with his active advisory role in YZi Labs, welcomed Zhang, saying: “It’s great to have her back at the helm of Labs.”
CZ to have active role at YZi Labs
The rebranding of Binance Labs to YZi Labs was done to stress its independence from Binance and to expand its investment focus on companies in the Web3, AI and biotech spheres. The latter two have been included in the range of the company’s interests, on CZ’s recommendation.
According to the X post shared by the company, CZ will take an active part in activities to do with investment, direct mentorship and “coaching to founders.” As for Ella Zhang, she will spearhead the company “to lead the next phase of growth and innovation.” Initially, she launched Binance Labs in 2018.
CZ’s direct and active participation, according to the post, will “highlight YZi Labs’ commitment to adding value to the industry and providing founders with unique opportunities to grow with the support of a respectable leader in the field.”
The post emphasized that the existing portfolio of companies supported by YZi Labs will not see any cutbacks on funding and will receive the same level of support as before.
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