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.
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.
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.
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.
