He ran, resigned, spent time, and now about AI and biotechnology. However, when CZ is looking ahead, French regulatory authorities are looking back.
From Binance to Yzi Labs
Changpeng Zhao was more commonly known as “CZ”, but the most influential person in Crypto has returned, but this time it is another role.
In 2023, he resigned as a Binance CEO, sentenced a four -month penalty in the United States for compliance disorder, and returned to Yzi Labs.
Unlike the predecessor, which has grown blockchain startups, YZI Labs has expanded its range and challenges artificial intelligence and biotechnology.
This initiative will re -introduce the 12 -week direct residency program for startup founders, led by Ella Zhang, a familiar face of Binance Labs. CZ will also be involved and provide mentorship to next -generation entrepreneurs.
YZI Labs has already made the first large -scale investment and is leading a $ 16 million financing round of Sign, a platform that aims to verify the qualifications and token distribution.
This sign has developed a tool -friendly Tokentable designed to address general issues related to airdrops, such as incorrect management of tokens and fraudulent claims from fake accounts.
CZ states that blockchain infrastructure and reliable mechanisms continue to be at the center of his vision, stating that “appropriate distribution is a trust and verification is an important part.” 。
However, while CZ is looking ahead, Binance is still tied to regulations. French authorities have begun a new survey on fraud and money laundering, and has increased the history of legal legal issues.
CZ may have left Binance, but can the regulatory authorities and the industry can easily move him? And when Binance fights for the future, how far does the past pull CZ back? Let's decode.
Endless troubles of Binance
On January 28, French authorities have escalated Vinnance, and Reuters reported that they had begun a judicial survey on the provision of money launding, tax fraud, and unauthorized digital asset services.
The Paris Prosecutor's Office has confirmed that the survey covers Binance activities between 2019 and 2024, and is particularly focused on money laundering related to drug trafficking.
This is an important development of a case that began as a preliminary survey in June 2023, prompted by a complaint from a user claiming that the platform was misunderstood for misunderstanding information.
The petition is currently in Vinance business in France and European Union, and it is accused of operating without the approval of the appropriate regulatory authorities.
In response, Binance denies the claim and describes them as “several years old.” The company stated, “Binance will completely deny the claim and fight against the accusations made to it.”
Binance has further revealed that it has strengthened compliance measurement, adjusting money laundering anti -money laundering and customer standards and enhancing employee training programs.
This survey is the latest issue of a series of legal and regulated issues in the growing scrutiny of cryptocurrency exchange after the collapse of FTX in 2022.
In 2023, US authorities, including the Securities and Exchange Commission and the Ministry of Justice, took legal measures against major platforms such as Binance and Coinbase, claiming violations of securities law and other regulations.
Coinbase opposed the SEC's claim, but Binance agreed to pay a historic $ 4.3 billion in November 2023.
It is said that US prosecutors have accused Vinnance of being active in the “Wild West” approach, promoted illegal acts, and did not report more than 100,000 transactions related to terrorist organizations and other criminal groups. I am.
As part of the reconciliation, CZ resigned as CEO, and Richard Ten was appointed as his successor. But the legal issue did not end with this.
Binance also claims that Australian financial regulatory authorities have complained of the company's local derivative business and claiming to be a miscellaneous category of retail clients as wholesalers, and faced regulation measures in other regions. did.
YZI Labs expanded investment portfolio
When Binance is working on legal issues, CZ will move forward with the YZI lab and support a clear break from his past roles as an exchange operator.
In 2024, YZI Labs (formerly Binance Labs) actively expanded investment portfolios focusing on emerging technology. Throughout the year, the company has invested in 46 projects of various sectors, including distributed finances, AI, games, and Desci.
In August 2024, YZI Labs announced investment in companies focusing on two AI to support the development of distributed applications equipped with AI.
One of these was Sahara AI, a startup that integrates blockchain and AI technology. Sahara AI allows users to maintain intellectual property rights through the attribution of Ocheen, contribute to the infrastructure, knowledge, and maintenance of distributed AI.
The company has won $ 43 million in the Series A, led by Pantera Capital, Yzi Labs, and Polychain Capital, and participated in Samsung Next.
Another notable investment is AI startup that allows users to build and share applications with AI, and to enable developers to create customized AI solutions.
In November 2024, YZI Labs has advanced to the Distributed Science Division by investing in Bio Protocol, an accelerator program that focuses on biotechnology capitalization. Bio Protocol supports the collection of distributed autonomous organizations that promise to develop pharmaceuticals and live life treatment.
However, Yzi Labs is expanding in a new direction, but the past of CZ is not so late. His financial support and continuous existence in blockchain -related ventures maintains the connection with the industry that is still dealing with the legal troubles of Binance.
What is CZ doing?
CZ began to form the next step in March 2024, before four months of US sentence in the United States. A few days before the report, he tweeted. No, there is no new token. Educational project. Soon for details … “
The next day, he announced Giggle Academy and explained it as a free gaming platform for first -year to 12th graders. “There is no profit. Gaming. He wrote, shared a link to the concept paper of the project, and hired a small team to work directly with him.
After completing the penalty in September 2024, Zhao returned to social media with personal updates. “GM, food is very delicious … and it's a luxury to have more than one fruit a day!” He shares and glimpse his time in prison. Was provided.
With the same post, he gave an overview of the following priority. I will continue to invest in blockchain/distributed technology, AI, and biotechnology. I am a long -term investor who cares about the impact, not a return. “
The following month, in October 2024, Zhao was first released on Binance Blockchain Week, where it was full of full room and standing ovation. “The first question, how was your summer?”
Zhao answered frankly. “It's not good. It's more fun than it is now. I think the overall experience is very restricted in many ways, right? You can't do anything, so it's to you. Give a lot of time to reflect.
He avoided criticizing his litigation directly, but he pointed out that he was the first person to go to prison over the violation of the bank's secret law, and his situation was not a prison time. It is in contrast to the situation of a large financial institution facing the village. More importantly, CZ has confirmed that there is no plan to execute another encryption exchange.
In December 2024, the CZ announced the launch of the Giggle Academy iOS app, tested to parents with young children 2 to 6 years old, further expanding the scope of projects.
On the other hand, CZ tweeted jokingly when Donald Trump's recent Mome Coin's official Trump (Trump) was launched, including the recent launch of Mescoin. But I guess some other leaders may be thinking about it. “
Since CZ and Yzi Labs are focusing on building the next chapter, the unresolved legal battle surrounding Binance remains shadowed in his future.
There is a question about whether he's withdrawal from the company truly deprives the relationship with the continuous task, or whether his past involvement will continue to him in the next few years.
