The co -founder of Binance Changpeng “CZ” Zhao has refuted a report from the Financial Times that said Yzi Labs could open to external investors.
Zhao said that Tuesday’s report was “false news … with false/incorrect/invented information and negative narrative”, in an X publication.
“As far as I know … Yzi Labs is not raising an external background,” Zhao wrote.
The report had said that Yzi Labs, which was renamed the Binance Binance Binance laboratories earlier this year, is “open to the possibility of becoming an investment fund.”
Zhao also made an exception to the characterization of the report of the 2023 Binance guilt declaration. What led him to resign as CEO and spend four months in prison last year, as “criminal charges related to money laundering.”
“I beg you to a single violation of BSA, not to maintain an adequate program against money laundering,” he wrote.
The report cited an interview with Head of Yzi Labs El Zhang. Zhang also refuted the report on X. “The head of FT suggests that Yzi Labs plans to raise external LP money is false. We have no such plan,” he wrote.
Yzi Labs renamed Binance Labs after the release of Zhao from prison, and Binance co -founder assumed a more active role. Yzi Labs is often known as Zhao’s family office, since it is an investment vehicle for Zhao’s money.
However, Yzi Labs says that its structure differs from a traditional family office. “Yzi Labs supports high -impact startups that drive web3, AI and
Biotechnology. The family offices approach is more about patrimonial planning, tax structuring and
Generational capital preservation, “he said on the informative sheet by email.
