Binance founder Changpeng Zhao (CZ) called the Financial Times publication claiming that his family office YZi Labs is allegedly planning to raise outside capital a “fake”.
What CZ wrote
In a social media post, Zhao emphasized that YZi Labs remains a closed structure for managing his personal capital and has no plans to admit external investors. According to him, the company valued at about $10 billion “has not prepared any presentations or roadmaps for fundraising”.
CZ also added that he did not read the FT article itself due to paid access, but learned about its content through online comments. He accused the publication of “fabricated information and a negative narrative”.
What YZi Labs was accused of
The Financial Times referred to YZi Labs CEO Ella Zhang, who allegedly suggested that over time the company could turn into a fund for outside investors. The publication also mentioned contacts with former SEC commissioner Paul Atkins.
Zhao categorically denied this. He stated that since the rebranding, YZi Labs has not held a single meeting with external investors and has not discussed issues with regulators or financial advisors.
Past and current plans
YZi Labs was created in January 2024 after CZ stepped down as CEO of Binance. At that time, the exchange reached a $4.3 billion settlement with US authorities, and Zhao admitted to violations of anti-money laundering rules. At the same time, he stressed that it was not about fraud or theft, but about shortcomings in the compliance system.
The office manages Zhao’s personal wealth together with Binance co-founder Yi He. YZi Labs’ investment interests range from Web3 and blockchain startups to artificial intelligence and biotechnology.
Why it matters
Despite stepping down from leadership positions, CZ remains Binance’s largest shareholder. His new projects inevitably attract the attention of the press and regulators, given past conflicts with authorities.
Zhao tries to distance the family office from Binance’s image and its legal legacy. In this context, disputes with the media become part of the battle for perception — both in the industry and among institutional players.
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