CZ’s YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP

Varinder Singh
2 hours ago
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
CZ's YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP

Highlights

  • Changpeng "CZ" Zhao's family office YZi Labs announced $1 billion Builder Fund.
  • The firm will support projects focusing on trading, RWA tokenization, AI, DeSci, DeFi, payments, and wallets.
  • Binance coin surpasses XRP as it recorded 26 million transactions in a single day.

Changpeng “CZ” Zhao’s family office YZi Labs announced $1 billion Builder Fund to fuel BNB ecosystem growth by supporting projects working on the BNB Chain. This comes as Binance coin surpassed XRP and Tether to become the third-largest crypto asset by market cap.

Advertisement
Advertisement

CZ’s YZi Labs to Invest $1 Billion for BNB Ecosystem Growth

On October 8, YZi Labs announced a $1 billion Builder Fund to double down on founders in the BNB ecosystem, especially on BNB Chain. It comes as BNB Chain sets a new milestone as it recorded 26 million transactions in a single day, as per Nansen data.

BNB Chain Transactions
BNB Chain Transactions. Source: Nansen

The firm will financially back projects focusing on trading, RWA tokenization, artificial intelligence, DeSci, DeFi, payments, and wallets in the ecosystem. Founders need to participate in the Most Valuable Builder (MVB) accelerator program under the YZi Labs’ EASY Residency in October.

The team has backed multiple projects on the BNB ecosystem, including PancakeSwap, ListaDAO, Aster, and Aspecta. These saw massive interest from investors and adoption from the crypto community.

Changpeng “CZ” Zhao’s family office will offer up to $500,000 in funding and access to enhanced tools, funding, integrations, and over 460 million user ecosystem to drive real-world impact.

Ella Zhang, Head of YZi Labs, said BNB ecosystem prepares for the next wave of digital infrastructure adoption, with decentralization and on-chain scalability witnessing enhanced distribution while complying with security.

Advertisement
Advertisement

Binance Coin Overtakes XRP

The 26 million daily transactions, leading in DEX trading volume, and increasing daily active users have cemented Binance coin position as the 3rd largest crypto in terms of market cap. The Maxwell Hardfork in May played a crucial role by further improving network performance, cutting block times to 0.75 seconds, and lowering its transaction fees to 0.05 Gwei.

BNB price continues to hit new ATH above $1,330, surpassing XRP, Tether (USDT), and Solana (SOL) in the last 24 hours. The price is currently trading at $1,314, with a 24-hour high and low of $1,241.68 and $1,336.57, respectively.

Furthermore, a 105% increase in trading volume in the last 24 hours has supported building further upside momentum in the Binance coin. This indicates massive interest among traders.

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 5000 news articles and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.