CZ Announces 'New Leadership' as Binance Labs Rebrands and CZ Joins In
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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.
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.”
Yuri MolchanCZ 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.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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