Changpeng Zhao, the Binance founder known as @cz_binance, says the capital his investment firm @yzilabs deployed over recent months will turn out to be "some of the best performing" in its history. Speaking at a Hong Kong event on August 28, he argued that deploying during a crypto winter, when valuations are compressed, positions those bets at the bottom of the market cycle.
From Binance Labs to Independent Firm
@yzilabs formally launched in January 2025, rebranding from what was previously Binance Labs. The rebrand transformed the firm from being Binance's venture capital arm into the family office of Zhao and Binance co-founder Yi He, with Zhao taking an active role in investments. The firm ranks among the world's largest crypto investors, managing CZ's fortune along with capital from a handful of early Binance executives, including co-founder Yi He.
The firm is now led by Ella Zhang, one of the original founders of Binance Labs, who returned to head YZi Labs and oversee its broader ambitions. Under her prior leadership, the firm successfully incubated over 40 transformative projects, including Polygon, Injective Protocol, and Dune Analytics.
A Broader Investment Mandate
YZi Labs has expanded its focus beyond Web3 and blockchain projects to now actively invest in emerging sectors such as artificial intelligence and biotechnology. As of early 2025, YZi Labs manages a portfolio worth over $10 billion, including investments in more than 250 projects such as Sky Mavis, LayerZero, Aptos Labs, and Polygon.
Recent investments include additional funding for Ethena Labs as well as $BNB-focused crypto treasury firms B Strategy and CEA Industries. The firm has also moved into AI, making its first AI-sector investment by funding Vana, a crypto-AI project focused on data ownership.
In a market where crypto cycles rise and fall while AI feels inevitable and biotech plays out over decades, YZi Labs is deliberately positioning itself across multiple technological frontiers. CZ's comments at the Hong Kong event reinforce a long-standing conviction: the best entry points come when markets are quiet, not loud.
Sources:
CoinDesk: YZi Labs Makes First Investment Following CZ's Return
The Block: CZ-linked YZi Labs mulls opening to outside investors
CoinDesk: From Stablecoins to Biotech, Why YZi Labs Is Betting on What Hasn't Happened Yet