CZ Slams FT Over YZi Labs Funding Rumors: “Completely False”

Core Viewpoint - Binance founder Changpeng "CZ" Zhao has denied claims that his family office, YZi Labs, is preparing to raise outside capital, labeling a Financial Times article on the matter as "completely false" and filled with "made-up info and negative narratives" [1] Group 1: YZi Labs Operations - YZi Labs was established in January to manage Zhao's personal wealth and currently manages approximately $10 billion [1][4] - The firm operates independently and has not sought external capital, with Zhao stating that there have been no fundraising discussions or preparations for a pitch deck [2][3] - YZi Labs employs a 12-person team focused on long-term investment horizons rather than short-term returns [6] Group 2: Investment Focus - YZi Labs primarily invests in cryptocurrency start-ups but has also backed projects in artificial intelligence and biotechnology [4] - In 2022, YZi Labs briefly accepted around $300 million from outside investors before returning part of that money [4] Group 3: Regulatory Environment - If YZi Labs were to admit U.S. investors, it would face heightened regulatory oversight, especially as U.S. policymakers signal a more accommodative approach to digital assets [5] - Zhao emphasized that no plans to raise external funds are currently underway, criticizing the media for misleading coverage [5]