Public Endorsement from Binance Founder for Former Executive's Venture
Changpeng Zhao (CZ), founder of Binance, recently addressed the departure of former Chief Financial Officer Kaiser Ng via social media. He commended Ng's contributions during his tenure, referring to him as a friend, and noted he had been aware of Ng's startup plans for several months.
Investment Arm's Strategic Focus
In his statement, Zhao highlighted that his investment vehicle, YZi Labs, has a consistent and open interest in funding startups launched by individuals within the Binance ecosystem, encompassing both current and former employees. This announcement serves as a clear signal of support for entrepreneurs emerging from this network.
Targeting the Tokenization Frontier
Previous reports indicate that Kaiser Ng's new venture will focus on the tokenization of real-world assets (RWA). This field involves converting traditional physical assets—such as real estate, art, or commodities—into digital tokens on a blockchain, widely seen as a pivotal innovation for enhancing asset liquidity and financial inclusion.
Zhao's comments extend beyond well-wishes for a former colleague's career move. They unveil a strategic layer of his investment philosophy: leveraging and reinforcing the talent network cultivated at Binance, with a keen eye on pioneering applications that bridge blockchain technology with the real economy.