Binance Labs, the former investment arm of exchange giant Binance, is getting a major overhaul under a new name, YZi Labs, with former Binance CEO Changpeng “CZ” Zhao closely involved in operations, the firm announced Thursday.

The reshuffle means the investment firm will go from being the exchange’s venture capital arm to the family office of CZ and Binance co-founder Yi He, Bloomberg reported. Binance spun off Binance Labs into a separate company last year.

“During this rebranding, [CZ] will take a more active role in investment activities, directly engaging with founders and offering mentorship and coaching,” YZi Labs said in an X filing. The firm is also expanding its investment focus beyond web3 into artificial intelligence and biotech.

Zhao co-founded and led Binance to become the world’s top crypto exchange by trading volume. In April last year, Zhao was sentenced to four months in prison for violating the Bank Secrecy Act (BSA) by failing to set up an adequate know-your-customer (KYC) program at Binance. As part of his guilty plea, he agreed to pay a $50 million fine and step down as CEO of the crypto exchange. He was released in September.

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