Changpeng Zhao, widely recognized as CZ in the cryptocurrency realm, has taken on the role of advisor at artificial intelligence startup Vana.
YZi Labs, the newly rebranded venture capital firm formerly known as Binance Labs, announced this strategic investment and CZ’s advisory role on February 24.
“We’re excited to share YZi Labs’ strategic investment in Vana and to welcome CZ as an advisor as we enhance the Data Layer for AI within our growing DataDAO ecosystem,” Vana stated.
This strategic collaboration marks YZi Labs’ first investment in an AI protocol since its rebranding earlier this year. The announcement highlights that with YZi Labs’ support and CZ’s advisory expertise, Vana aims to strengthen its position as a layer 1 blockchain dedicated to AI data and interoperability.
YZi Labs and CZ’s Ambitious Venture into AI, Blockchain, and Biotech
Following his release from U.S. custody, CZ is making a significant return to the cryptocurrency industry. His legal troubles required him to step down as CEO of Binance after pleading guilty to money laundering violations, which led to a $4.3 billion settlement with U.S. authorities in November 2023.
Despite stepping down as CEO, Zhao confirmed during the Binance Blockchain Week in Dubai last November that he intends to explore new opportunities within the crypto sector. He has expressed an interest in three primary areas: blockchain, artificial intelligence, and biotechnology.
Leading YZi Labs aligns seamlessly with his aspirations, particularly following a recent $16 million investment in token airdrop platform Sign. YZi Labs is now focusing on advancing the AI sector through its collaboration with Vana.
Vana aims to foster data sovereignty, allowing data creators the advantages of blockchain technology and staking while benefiting from the burgeoning AI economy. Businesses, researchers, and developers can utilize this layer 1 blockchain for high-quality datasets while retaining control over their data.
Commenting on the initiative, a director of investment at YZi Labs remarked:
“Data sovereignty is increasingly crucial as AI evolves, and Vana is pioneering a model that empowers individuals to control their data while facilitating innovative AI research. We’re thrilled to support their mission to transform how data is accessed, shared, and used in the AI economy.”
