Binance Labs has officially announced that it is rebranding to the name YZi Labs as it wants to shift its investment strategy.
As per the announcement, the organization wants to include artificial intelligence (AI) and biotechnology and not only focus on cryptocurrency and blockchain technology.
The rebranding also welcomes Changpeng Zhao, the old CEO of Binance. He steps down from his leadership role at Binance but will continue to play a crucial part in YZi Labs by mentoring and engaging with startup founders.
YZi Labs will now invest in Web3, AI, and biotech with the goal of exploring the innovation of these intersecting fields while maintaining a commitment to long-term impactful projects.
Ella Zhang, who co-founded Binance Labs in 2018, returns as the head of YZi Labs. She previously led the incubation program that supported over 40 startups, including well-known brands like Polygon and CertiK.
YZi Labs intends to improve its incubation program by offering a new 12-week residency designed to stimulate cooperation and immersive experiences for founders.
CZ emphasized that the rebranding signifies not just a name change but an expanded vision for the company. He expressed excitement about Ella’s return, highlighting her instrumental role in the organization’s early success. Ella Zhang echoed this sentiment, stating her eagerness to reconnect with founders and the community while focusing on empowering visionary entrepreneurs.
YZi Labs seeks to sponsor projects that will stimulate innovation and provide long-term societal value, regardless of market trends. The organization ensures that all existing portfolio companies will continue to receive support under the new identity.
YZi Labs represents a new chapter for the organization as it broadens its horizons while remaining committed to its foundational principles in Web3 technology.
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