Former Binance Labs Makes First Investment Following Zhao’s Return: Report
YZI Labs, the rebranded Binance Labs, led a $16 million funding round into token airdrop startup Sign.
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Binance Labs
YZI Labs, the rebranded Binance Labs, led a $16 million funding round into token airdrop startup Sign.
The former venture capital arm of Binance will become the family office of CZ and Binance co-founder Yi He, Bloomberg reported.
The large funding round was led by Pantera Capital, Binance Labs and Polychain Capital and included participation from Samsung, Matrix Partners, Foresight Ventures and others.
Binance Labs now has a disclaimer on its website describing it as “an independent venture and not part of the Binance Group.”
The protocol was built on the architecture of LayerZero, which raised $120 million at a $3 billion valuation earlier this year.
Binance Labs led the round with HashKey Capital, NGC and Shima Capital among the other backers.