Bloomberg: Zhao Changpeng's net worth reaches $70 billion, transforming the venture capital firm Binance Labs into a large family office

ChainCatcher news, according to Bloomberg, as the cryptocurrency continues to rise, Changpeng Zhao's net worth has reached $70 billion, and he has transformed the venture capital firm Binance Labs into a large family office.

Binance Labs announced its rebranding to YZi Labs. Ella Zhang has returned to YZi Labs and will serve as the head. Ella Zhang co-founded Binance Labs with Changpeng Zhao in 2018 and was its first head.

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