Binance co-founder Changpeng "CZ" Zhao has refuted a report by the Financial Times which said YZi Labs could be opened up to external investors.

Zhao said the Tuesday report was "false news...with with fake/wrong/made-up info and negative narrative," in a post on X.

"As far as I know...YZi Labs is not raising an external fund," Zhao wrote.

The report had said that YZi Labs, which was rebranded from Binance's venture arm Binance Labs at the start of this year, is "open to the possibility of converting into an investment fund."

Zhao also took exception to the report's characterization of Binance's 2023 guilty plea. which led to him stepping down as CEO and spending four months in prison last year, as "criminal charges related to money laundering."

"I plead to a single violation of BSA,

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