PANews reported on January 23 that Binance Labs announced that it would change its name to YZi Labs to reflect its independence and expand its investment focus to Web3, artificial intelligence (AI) and biotechnology (biotech). The name change marks the independence of the institution from the Binance brand and its adaptation to a wider range of technology fields. Changpeng Zhao (CZ) will continue to actively participate in investment activities and provide guidance and support to entrepreneurs. At the same time, Ella Zhang, the original head of Binance Labs, returned as the head of YZi Labs to promote the next stage of innovation and growth.

YZi Labs will focus on supporting long-term influential projects and explore the intersection of Web3, AI, and biotechnology. It plans to re-optimize the incubation project and introduce a 12-week offline residency event to create an immersive cooperation environment for entrepreneurs. YZi Labs currently manages an investment portfolio covering more than 250 projects in 25 countries around the world, and more than 65 companies have participated in its incubation program.