Binance Founder Reportedly Considering Opening YziLabs to External Investors
CZ dismisses Financial Times’ claim of YZi Labs opening up to external investors, reiterating the family office’s focus on internal operations and independence from Binance.
BNB
Fact Check
The statement is factually true as it is verifiable that multiple credible news outlets, led by the Financial Times, reported that the Binance founder was considering opening YziLabs to external investors. However, it is crucial to note that the subject of the report, Changpeng 'CZ' Zhao, has strongly and publicly refuted these claims, labeling them as false across his social media and in statements covered by numerous other outlets.
- Reference: 1
Summary
Changpeng Zhao (CZ) denied a Financial Times report suggesting YZi Labs, his family office, is seeking to raise $10 billion from external investors. Zhao clarified that YZi Labs is not pursuing external funding, refuting claims of a planned investor pitch and rejecting misinterpretations regarding Binance's legal issues. YZi Labs remains focused on its internal operations, with investments in digital assets, biotech, and AI.
Terms & Concepts
- External Investors: Individuals or institutions outside a company or venture who provide capital in exchange for equity or other returns.