Vana Welcomes Changpeng Zhao (CZ) as an Advisor and Announces Strategic Investment from YZi Labs

Changpeng Zhao, better known in the crypto industry as CZ, is joining artificial intelligence startup Vana as an advisor.

Crypto industry veteran Changpeng "CZ" Zhao is joining artificial intelligence (AI) startup Vana as an advisor, as part of a strategic investment by venture capital firm YZi Labs.

CZ, who is also the founder of Binance, announced his involvement in a post on X, where Vana also announced the news.

CZ will be joining Vana as an advisor. The move is part of a strategic investment by YZi Labs, which was recently rebranded from Binance Labs.

CZ’s role will be to help expand Vana’s reach as a layer 1 (L1) blockchain for AI data and interoperability.

CZ is making a comeback in the crypto industry after being released from U.S. custody earlier this year.

Before his four-month prison sentence, CZ agreed to step down as Binance CEO after pleading guilty to money laundering violations in November 2023.

Binance also agreed to a $4.3 billion settlement with U.S. authorities.

CZ returned to the crypto scene following his release, but his plea deal with the U.S. Department of Justice prevented him from returning as CEO of the crypto exchange.

CZ confirmed this during the Binance Blockchain Week in Dubai in November.

However, he announced plans to focus on other crypto endeavors, including an initiative with Giggle Academy.

CZ also said he wanted to participate more in the investment space, particularly in blockchain, AI, and biotech.

CZ’s role at Binance Labs, which is now known as YZi Labs, aligns with this ambition.

After a recent $16 million investment in token airdrop platform Sign, YZi Labs is now eyeing AI growth with Vana.

Vana is an open protocol for data sovereignty that aims to bring the benefits of blockchain technology and staking to data creators in the growing AI economy.

The L1 blockchain enables businesses, researchers, and developers to access high-quality datasets while maintaining control over their data.

Commenting on the development, YZi Labs director of investment Andy Chang said:

“Data sovereignty is becoming a critical issue as AI advances, and Vana is pioneering a model where individuals retain control over their data while enabling groundbreaking AI research.

We’re excited to support their mission to redefine how data is accessed, shared, and leveraged in the AI economy.”