CZ Slams False Crypto Drama: ‘No Cash for YZi!’ 😤

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What to know:

  • Binance co-founder Changpeng “CZ” Zhao has refuted a report by the Financial Times which said YZi Labs could be opened up to external investors.
  • “As far as I know…YZi Labs is not raising an external fund,” Zhao wrote.
  • Zhao also took exception to the report’s characterization of Binance’s 2023 guilty plea as “criminal charges related to money laundering.”

In the dry, sun-scorched plains of the crypto world, where deals are struck over cold coffee and hotter egos, CZ-yes, that CZ, the man who once traded Bitcoin like it was beans at a farmer’s market-has declared war on a rumor that dared to suggest YZi Labs might court outsiders for cash. “False news,” he scoffed, as if the idea of investors were a cactus in his well-manicured garden. 🌵

“As far as I know,” he penned, with the gravitas of a man who’s spent years dodging regulators and dodging jail, “YZi Labs is not raising an external fund.” A statement so dry it could rival the Mojave Desert. Meanwhile, the Financial Times’ report, which claimed YZi (formerly Binance Labs) might pivot to a fund, was met with the kind of eye-roll reserved for politicians promising free tacos. 🌮

But the real fireworks? CZ’s rebuttal to the report’s description of Binance’s 2023 guilty plea as “criminal charges related to money laundering.” Oh, how he bristled! “I plead to a single violation of BSA,” he wrote, as if the words themselves were a badge of honor. One violation, sure-but let’s not forget the four months in a cell, the CEO resignation, and the existential crisis that comes with being a crypto king without a kingdom. 🏰

Ella Zhang, YZi’s head, joined the fray, dismissing the FT’s claim as “false” with the enthusiasm of someone who’s had enough of reporters and their penchant for headlines that read like tabloid fiction. And YZi Labs, now rebranded from Binance Labs (because nothing says “fresh start” like a name change), insists it’s not your typical family office. “We’re about Web3, AI, biotech,” they declared in a fact sheet, as if the words themselves could shield them from the inevitable joke: “Family offices? More like ‘family offices’-where the only thing preserved is dignity.” 💸

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2025-09-24 18:41