CZ's Net Worth Reaches $70 Billion and Transforms Binance Labs into a Large Family Office

BlockBeats News, January 23rd, according to Bloomberg, with the continuous rise of cryptocurrency, CZ's net worth has reached 70 billion USD and has transformed Binance Labs into a large family office.

Binance Labs has announced a name change to YZi Labs. Ella Zhang has returned to YZi Labs as the head. Ella Zhang co-founded Binance Labs with CZ in 2018 and served as the inaugural head.

In an interview, Ella Zhang stated that YZi Labs is a variation of Binance's co-founder's name and has now become a "pure family office investment vehicle." A spokesperson for YZi Labs mentioned that the company does not have a formal headquarters as its employees operate in a remote work model.