Changpeng Zhao, the former CEO of Binance, is transforming Binance Labs into a family office named YZi Labs, which will manage approximately $10 billion in crypto assets.

The team at YZi Labs is set to expand from nine to around 20 members as they hire specialists in these new investment areas, with Zhao and Ella Zhang actively involved in investment decisions.

YZi Labs operates without a formal headquarters, with a remote staff managing operations, ensuring flexibility in its operational model.

As of January 23, 2025, Binance Labs has officially rebranded to YZi Labs, marking a significant shift in its operational focus towards investments in artificial intelligence and biotechnology.

Zhao emphasized that this rebranding signifies an expanded vision to incorporate transformative sectors like AI and biotech, reflecting a strategic overhaul of the firm.

Following his release from prison in September 2024, Zhao has committed to impact-driven investments and plans to launch a non-profit initiative called Giggle Academy.

Zhao's new investment strategy will prioritize projects that emphasize social impact alongside financial returns.

The firm will introduce a 12-week residency program to enhance its incubation initiatives, fostering collaboration and mentorship for project founders.

Ella Zhang, who co-founded Binance Labs, will lead YZi Labs, bringing her experience from successful projects to guide the new direction.

Zhang noted that while the rebranding reflects growth, the core mission of supporting transformative technology remains unchanged.

YZi Labs plans to invest between $500,000 and $50 million in various ventures, with Zhao's involvement in key investment decisions.

Prior to rebranding, Binance Labs had already invested in significant projects, holding assets worth over $10 billion and outperforming competitors in the crypto investment space.