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This article directly stems from the research process for our Canadian single family office database. Our list of Canadian family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity and renewables.
Binance is the world’s largest cryptocurrency exchange. The founder behind it is Changpeng Zhao, who also goes by CZ. Zhao was born in China, but moved to Canada early. After studying computer science at Montreal’s McGill University, he worked in different IT roles. In 2017, Zhao launched Binance. As of 2024, Zhao’s net worth is estimated at over $40BN. Since a large part of this wealth is concentrated in his family office, YZI Labs, the Zhao family office is certainly one of the largest Canadian family offices.
Where does Changpeng Zhao`s wealth come from?
As mentioned above, Zhao is the founder of Binance. Last year, the cryptocurrency exchange was responsible for nearly half of every spot trade processed by centralized crypto exchanges. As a result, Binance is the largest cryptocurrency exchange in the world. In 2023, Zhao pleaded guilty to US charges of fraud and money laundering. As a result, Binance was fined 4.4 billion dollars. But still, Zhao keeps an estimated 90% stake in Binance.
YZI Labs: The Zhao Family Office
Contrary to earlier assumptions, there is a Zhao family office: YZI Labs. The firm emerged from the restructuring of Binance Labs following Zhao’s legal proceedings, including a $50 million personal fine and a four-month prison sentence. Released in September 2024, Zhao now manages his wealth through this dedicated investment entity. YZI Labs oversees approximately $10 billion in crypto-related assets and also manages the wealth of Binance co-founder Yi He. The firm operates without a disclosed headquarters and invests globally.
Through YZI Labs, Zhao continues to pursue impactful investments in areas such as Web3, artificial intelligence, and biotechnology. For instance, YZI Labs runs the EASY Residence program, a 10-week in-person incubation initiative for early-stage teams in Web3, AI, and healthcare, starting June 2, 2025, in Silicon Valley. It also partners with BNB Chain and CMC Labs to support the BNB Chain ecosystem through the Most Valuable Builder (MVB) accelerator. Investment tickets range from $500,000 to $50 million and include liquid token positions.
According to interviews, Zhao holds nearly 100% of his net worth in cryptocurrencies and continues to maintain a long-term vision focused on innovation and decentralized technologies.
Picture source: Quantitatives
Last Updated on May 6, 2025
