🌎 Binance’s CZ Shifts Focus to AI and Biotech

Changpeng Zhao Shifts Focus to AI and Biotech Amid Binance’s Regulatory Troubles

Changpeng Zhao, formerly the CEO of Binance, has re-emerged with a new focus on artificial intelligence and biotechnology through his rebranded venture, YZi Labs. Despite his departure from Binance, regulatory troubles continue to plague the company, with French authorities launching a new probe into alleged fraud and money laundering.

From Binance to YZi Labs

After stepping down as Binance’s CEO in 2023 and serving a four-month prison sentence in the US for compliance failures, CZ has returned with YZi Labs, a rebranded version of Binance Labs. Unlike its predecessor, YZi Labs is expanding its scope beyond the crypto world, venturing into artificial intelligence and biotechnology.

The initiative will be led by Ella Zhang, a familiar face from Binance Labs’ early days, and will reintroduce a 12-week, in-person residency program for startup founders. CZ will also be involved, offering mentorship to the next generation of entrepreneurs.

Binance’s Never-Ending Troubles

On January 28, French authorities escalated their investigation into Binance, launching a judicial probe into alleged money laundering, tax fraud, and the provision of unauthorized digital asset services. This marks a key development in a case that began as a preliminary investigation in June 2023, prompted by complaints from users who claimed to have lost money due to misleading information provided by the platform.

The allegations now also extend to Binance’s operations in France and across the European Union, where the company is accused of operating without proper regulatory approvals. Binance has denied the allegations, describing them as “several years old.” The company has stated, “Binance fully denies the allegations and will vigorously fight any charges made against it.”

YZi Labs’ Expanding Investment Portfolio

As Binance grapples with mounting legal challenges, CZ is pushing forward with YZi Labs, backing projects that signal a clear break from his past role as an exchange operator. In 2024, YZi Labs actively expanded its investment portfolio, focusing on emerging technologies.

Some notable investments include:

Sahara AI, a startup that integrates blockchain and AI technologies.
MyShell, an AI startup that allows users to build and share AI-powered applications.
BIO Protocol, an accelerator program focused on capital formation for biotechnologies.

What’s CZ Up to?

CZ began shaping his next steps even before serving his four-month US prison sentence in March 2024. He has since unveiled Giggle Academy, a free, gamified, and adaptive learning platform for students in grades 1–12.

CZ has also outlined his next priorities, stating, “Giggle Academy is going well and will be a big part of my life for the next few years. I will continue to invest in blockchain/decentralized technologies, AI, and biotech. I am a long-term investor who cares about impact, not returns.”

As CZ and YZi Labs focus on building his next chapter, the unresolved legal battles surrounding Binance continue to cast a shadow over his future. The question remains whether his departure from the company truly severs his ties to its ongoing challenges or if his past involvement will continue to follow him in the years ahead.