Binance Founder 'CZ' Considers Opening YZi Labs to External Investors: FT

Core Insights - YZi Labs, founded by Binance co-founder Changpeng "CZ" Zhao, is considering opening up to external investors and may convert into an investment fund [1][2] - The company, which has $10 billion in assets, was rebranded from Binance Labs and is currently focused on Web3 investments while acknowledging that it is "still early" in AI and biotech sectors [1][2] - Following Zhao's legal issues and subsequent resignation as Binance CEO, he has shifted his focus to managing YZi Labs, which handles the wealth of Zhao and fellow co-founder Yi He [2][3] Company Overview - YZi Labs is a family office managing $10 billion, previously known as Binance Labs, and is exploring the possibility of attracting external investors [1] - The head of YZi Labs, Ella Zhang, indicated that there is significant interest from external investors, and the company may eventually transition to an external-facing fund [1][2] - The rebranding occurred after Zhao's release from prison, where he served a four-month sentence related to compliance issues at Binance [2][3] Investment Focus - YZi Labs has expertise in Web3 investments but is still in the process of building a team for AI and biotech investments [2] - The company is currently not structured to accept external investments as it operates as a family office, which typically does not raise funds from outside sources [3]