Key Takeaways
- • Changpeng "CZ" Zhao, a few months out of prison and worth roughly $70 billion according to Bloomberg, is converting the former venture arm Binance Labs into a family office.
- • The vehicle is being renamed YZi Labs, and Binance Labs reportedly oversees about US$10 billion of crypto-related investments.
- • The shift moves Zhao's capital from a corporate-style VC platform into a family-controlled structure, a change relevant to allocators tracking crypto-focused investment vehicles.
- • Reported net worth figures vary across sources, with some citing $94.91 billion and others about $114 billion, so the $70 billion figure should be treated as one reported estimate.
Summary
Changpeng "CZ" Zhao, the co-founder of Binance, is turning the former venture capital arm Binance Labs into a giant family office, according to a Bloomberg News report dated January 23, 2025. Bloomberg reports that Zhao, who was recently released from prison, is worth about $70 billion thanks to the sustained crypto rally. The publisher context describes the vehicle as being renamed YZi Labs.
Binance Labs, the venture arm, oversees about US$10 billion of crypto-related investments, according to the publisher's summary. The reporting describes the restructuring as moving the platform from a traditional VC model into a family office that manages Zhao's personal holdings. Bloomberg notes that Zhao built Binance into the dominant crypto exchange while maintaining that it did not have a global headquarters.
Net worth estimates differ across coverage. One publisher summary cites $94.91 billion, while another cites an estimated $114 billion. Those figures are not reconciled in the sources, and readers should weigh them accordingly.
Additional coverage from the Australian Financial Review (AFR) carried a similar headline, and Binance published its own announcements under the YZi Labs name. Details of governance, investor composition, and the precise scope of the family office's mandate were not specified in the available material.
Binance Labs, the venture arm, oversees about US$10 billion of crypto-related investments, according to the publisher's summary. The reporting describes the restructuring as moving the platform from a traditional VC model into a family office that manages Zhao's personal holdings. Bloomberg notes that Zhao built Binance into the dominant crypto exchange while maintaining that it did not have a global headquarters.
Net worth estimates differ across coverage. One publisher summary cites $94.91 billion, while another cites an estimated $114 billion. Those figures are not reconciled in the sources, and readers should weigh them accordingly.
Additional coverage from the Australian Financial Review (AFR) carried a similar headline, and Binance published its own announcements under the YZi Labs name. Details of governance, investor composition, and the precise scope of the family office's mandate were not specified in the available material.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.