YZi Labs Transforms into Family Office, Managing $10 Billion in Assets Under New Leadership

YZi Labs, formerly known as Binance Labs, has rebranded to position itself as a family office investment tool, managing approximately $10 billion in crypto-related assets, according to statements from its new head, Ella Zhang, in a recent Bloomberg interview.Key Highlights of the TransitionFamily Office Focus:The rebranded YZi Labs will primarily serve as an investment vehicle for Binance co-founder He Yi, moving beyond its previous venture capital structure to a wealth management entity.Investment Expansion:While maintaining its crypto roots, YZi Labs plans to broaden its investment scope, targeting artificial intelligence (AI) and biotechnology, reflecting the growing intersection of Web3 with emerging technologies.Workforce Expansion:The firm currently operates with a remote team of nine, with plans to expand to 20 members in the near future, aiming to bolster expertise across new investment areas.Funding and Structure:Binance founder Zhao Changpeng (CZ) has not injected additional capital into YZi Labs post-rebranding. Despite having no formal headquarters, the firm will continue its operations with a globally distributed team.Ella Zhang emphasized that this transformation marks a strategic shift for YZi Labs, positioning it as a multi-sector investment powerhouse while maintaining a strong foundation in blockchain and Web3 initiatives.