Yzi Labs, the renamed venture capital branch of Crypto Exchange Binance, made his first investment after the release of the founder of Changpeng “Cz” by Zhao, Fortune reported on Wednesday.
The company formerly known as Binance Labs led a financing of $ 16 million, a startup which aims to simplify the distribution of tokens and to check the chain identification information, according to the report.
“Good distribution strengthens confidence and verification is an essential part. While more and more people are moving to the house, it is an essential element of the fundamental infrastructure, “said Zhao in an email, according to the fortune report.
The change of brand of Yzi laboratories means that the company has gone from the venture capital branch of the exchange in the Family Office of Zhao and the co-founder of Binance Yi He, with Zhao playing an active role in the Investments.
Zhao was released from American prison in September following a four -month prison sentence for breaking the bank’s secret law by not having set up a suitable program to know your client in Binance .
He also accepted a fine of $ 50 million and resign as CEO of Binance as part of his guilt.
Yzi Labs did not immediately respond to the request for comments from Coindesk.
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