In a sharp rebuke to the Financial Times’ recent report, Changpeng “CZ” Zhao—the influential founder of Binance and head of YZi Labs—has forcefully denied claims that his $10 billion investment entity is courting external investors. As digital assets increasingly reshape global finance, this controversy underscores an ongoing culture clash between crypto visionaries and traditional media.
The Financial Times alleged YZi Labs was seeking to tap outside capital, citing a growing appetite among investors for exposure to the next wave of technology disruptors. Both CZ and YZi Labs’ CEO Ella Zhang countered these assertions almost immediately via social platforms, branding the report as “fake” and designed to generate “negative narratives” around both YZi Labs and their stewardship of the Binance legacy. CZ insisted, “There’s no deck, no demo, no deal—we’re not raising outside funds.”
For CZ, this is part of an established media pattern. Earlier this year, he dismissed claims by the Wall Street Journal that he was involved in political finance activities, underscoring instead his commitment to advancing transparent and robust fintech solutions. After facing regulatory scrutiny—pleading to a single violation for failing to maintain adequate anti-money laundering (AML) protocols at Binance—CZ transitioned his focus from exchange operations to direct investments via YZi Labs, which spun out from Binance Labs in early 2025.
YZi Labs’ investment thesis is rigorously selective. Now managing over $10 billion across more than 230 companies, the fund targets high-impact early-stage ventures in crypto infrastructure, AI, and biotech—selecting assets that can withstand intense due diligence. Recent example allocations include BNB-centric treasury firms and emergent Web3 infrastructures such as Hash Global and B Strategy, with portfolio standouts like Polygon, Aptos Labs, and LayerZero reflecting a preference for projects that can deliver “real-world impact.”
CEO Ella Zhang has acknowledged overwhelming interest from founders and institutional scouts but clarified that YZi Labs’ doors will only open once their internal expertise in AI and biotech is fully mature. “Scaling requires both capital discipline and sector mastery,” Zhang commented, signaling that no new external fundraising is imminent. In the interim, the group’s innovative EASY Residence program is setting the pace for global incubation, supporting startups in Web3, healthcare, and AI with significant capital and a hands-on approach.
Despite allegations and the resulting FUD (Fear, Uncertainty, Doubt), BNB’s market sentiment remains robust. In fact, the token surged past the $1,000 mark amid this media storm, defying bearish expectations, with much of the investor community displaying strong confidence in both the network and its broader ecosystem.
The episode is a telling illustration of the dynamic, sometimes adversarial interface between next-generation fintech leadership and legacy financial media. While rumors and controversy appear par for the course in crypto, CZ’s assertive clarification—and YZi Labs’ focus on substance over speculation—reinforces the maturing resilience of digital finance in a rapidly evolving market.
