Binance Labs will be renamed YZi Labs and become an independent organization, allowing former Binance CEO Changpeng "CZ" Zhao to take an active role. CZ will join YZi Labs Binance founder Changpeng "CZ" Zhao was sentenced to prison last year, but was only released in September 2024. However, as part of the release agreement, CZ has been banned from working at Binance for life. Since his release, the former CEO has focused on education and philanthropy, but this may be changing. Binance Labs has been renamed YZi Labs and become an independent company, allowing CZ to return. CZ said: "The name change to YZi Labs is not just a name change, but an expansion of vision as we expand our investments into AI and biotechnology. We are excited to welcome Ella Zhang back to lead this next phase. Her expertise and vision played a crucial role in shaping the organization's early success." Ella Zhang was the head of Binance Labs from 2018 to 2020 and then left. Zhang stated that YZi will expand its research into AI and biotechnology, unlike Binance Labs. The current CEO of Binance, Richard Teng, hinted at these changes in 2024. He announced that Binance Labs will rebrand in the near future and CZ will return. CZ has maintained an influential presence in the broader cryptocurrency space as an individual, but he once again wants to have a voice in a larger project. Finally, it is still unclear what exact role CZ will play at YZi Labs. The press release notes his "pragmatic approach" suggests an important position and states he will "play a key role in investment activities." Ella Zhang will take on a leadership role, but CZ's role may still be significant. FOLLOW US ON FACEBOOK | TELEGRAM | TWITTER Disclaimer: All content on this website is for informational purposes only and is not investment advice. Readers should do their own research before making investment decisions. We are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content you read on this website.