Binance Labs Rebrands to YZi as Changpeng “CZ” Zhao Returns
Binance Labs is changing its name to YZi Labs and becoming an independent organization, giving former Binance CEO Changpeng “CZ” Zhao an active role.
The news has been shared with BeInCrypto via an exclusive press release.
CZ will join the renamed Binance Labs
Binance founder Changpeng Zhao “CZ” He was jailed last year and was not released until September 2024. However, as part of the release agreement, CZ received Lifetime ban from working at Binance.
Since his release, the former CEO Focus on education and philanthropybut that may be changing. Binance Labs is changing its name to YZi Labs and becoming an independent company, allowing CZ to return,
“Changing our name to YZi Labs is more than just a name change, it means our vision expands as we broaden our horizons to include transformative industries like artificial intelligence and biotech. We are excited to welcome Ella Zhang back Leading the next phase. Her expertise and vision were instrumental in the organization’s early success,” said CZ.
Zhang Aila Was the head of Binance Incubator From 2018 to 2020, he co-founded the research department with CZ. Mr. Zhang left in 2020 to become a solo entrepreneur, but is now back. Unlike Binance Labs, YZi will expand research into artificial intelligence and biotechnology, she said.
Current CEO of Binance In fact, Deng Ziqi mention these changes 2024. He claimed that Binance Labs will be rebranded in the near future and that CZ will be “back in action” in some capacity.
Czech Republic Maintain an influential presence as an individual within the broader cryptocurrency space, but once again lending his voice to larger projects.
Ultimately, it’s unclear what role CZ will actually play within YZi Labs. The release notes that his “hands-on approach” hints at an important day-to-day function and claims he will “play a key role in investment activities.”
Ella Zhang will take on a leadership role, but CZ’s role could still be very broad.
Overall, all of these plans ignore a key elephant in the room— Binance’s ongoing battle with U.S. law enforcement. Even though YZi Labs is nominally an independent entity from Binance, CZ was still subject to a lifetime ban.
The company is apparently a spin-off, staffed by Binance employees, and will even continue to provide funding BNB Chain’s MVB program. This fig leaf may not stand up to scrutiny.
Disclaimer
follow trust project BeInCrypto is committed to fair and transparent reporting. This news article is designed to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on the content of this article. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
