ex-Binance OGs reported to Changpeng Zhao 赵长鹏 & raised 5 MILLION USD from YZi Labs, Gleb Kostarev and Vladimir Smerkis founders of $BLUM at Blockchain Forum 2025 Moscow | Aleksei DOLGIKH

Gleb Kostarev and Vladimir Smerkis, former Binance executives, launched Blum, a crypto platform allowing direct trading from third-party wallets across multiple blockchains. Kostarev was Binance’s regional head for Eastern Europe, CIS, Turkey, Australia, and New Zealand, while Smerkis was General Manager for CIS. Blum streamlines token listing by automating checks on technology, liquidity, and user base, and has gained over 50,000 signups in its first 48 hours, with a Telegram community exceeding 32 million. They raised $5 million, with YZi Labs among the investors, in a round led by gumi Cryptos Capital.

Key Points

• Changpeng Zhao (CZ) has been active in crypto and blockchain after his release from prison in September 2024, rebranding Binance Labs to YZi Labs and advising Kyrgyzstan on crypto frameworks.
• Gleb Kostarev and Vladimir Smerkis, former Binance executives, launched Blum, a crypto platform for direct wallet trading, raising $5 million with YZi Labs' support.
• YZi Labs, led by CZ, invested in Blum and other projects like Sign, showing continued influence in the crypto space.
• The Blockchain Forum 2025 in Moscow highlighted Blum's $5 million funding from YZi Labs, reinforcing ties with ex-Binance executives.

Changpeng Zhao (CZ) and His Recent Activities

Changpeng Zhao, known as CZ, stepped down as Binance CEO in November 2023 and served a four-month prison sentence for anti-money laundering violations, completing it by September 2024. Since then, he has remained influential in the crypto community. He rebranded Binance Labs into YZi Labs, expanding its investment focus to include AI and biotechnology. In January 2025, YZi Labs led a $16 million funding round for Sign, a platform improving on-chain credential verification and token distribution. On April 3, 2025, CZ was appointed by Kyrgyzstan's National Investment Agency to help shape the country's crypto and blockchain ecosystem, focusing on education and talent development in crypto management and cybersecurity.

Gleb Kostarev, Vladimir Smerkis, and Blum

Gleb Kostarev and Vladimir Smerkis, former Binance executives, launched Blum, a crypto platform allowing direct trading from third-party wallets across multiple blockchains. Kostarev was Binance’s regional head for Eastern Europe, CIS, Turkey, Australia, and New Zealand, while Smerkis was General Manager for CIS. Blum streamlines token listing by automating checks on technology, liquidity, and user base, and has gained over 50,000 signups in its first 48 hours, with a Telegram community exceeding 32 million. They raised $5 million, with YZi Labs among the investors, in a round led by gumi Cryptos Capital.

Funding and Support from YZi Labs

YZi Labs has been active in funding crypto projects, including the $16 million round for Sign and the $5 million investment in Blum, highlighting its strategic alignment with innovative ventures led by former Binance executives.

Blockchain Forum 2025 Moscow

At the Blockchain Forum 2025 in Moscow, Aleksei Dolgikh reported that Kostarev and Smerkis raised $5 million from YZi Labs for Blum, underscoring the continued support from CZ’s network.

Survey Note: Detailed Analysis of Ex-Binance Executives and Their New Ventures

This survey note provides a comprehensive overview of the activities of former Binance executives, focusing on Changpeng Zhao (CZ), Gleb Kostarev, Vladimir Smerkis, and their respective ventures, particularly the crypto platform Blum and the rebranded venture capital arm YZi Labs. The analysis is based on verified information from recent reports and aligns with the current date of April 21, 2025.

Background and Context

Binance, founded by Changpeng Zhao in 2017, became the world’s largest cryptocurrency exchange, processing nearly half of global spot trades by 2023. However, in November 2023, CZ stepped down as CEO following a settlement with U.S. authorities, pleading guilty to failing to maintain an effective anti-money laundering program. He paid a $50 million fine and served a four-month prison sentence, completing it by September 2024 (Forbes - Changpeng Zhao). Since then, CZ and other former Binance executives have pursued new ventures, leveraging their experience in the crypto space.

Changpeng Zhao (CZ): Post-Binance Activities

After his release, CZ has remained a significant figure in the crypto community, focusing on advisory roles and venture capital investments. Key activities include:

• Rebranding Binance Labs to YZi Labs: CZ rebranded Binance Labs into YZi Labs, a family office that broadens its investment scope beyond crypto to include AI and biotechnology. This shift was evident in his X post hinting at biotech investments, reflecting his interest in using crypto to accelerate research funding (Crypto.news - CZ toys with biotech investment).
• Investment in Crypto Projects: YZi Labs led a $16 million funding round for Sign in January 2025, a platform aimed at improving on-chain credential verification and token distribution. Sign’s revenue surged from $1.7 million in 2023 to $15 million in 2024 after integrating with the TON blockchain, highlighting YZi Labs’ focus on foundational blockchain infrastructure (CoinMarketCap - YZi Labs Invests First $16M).
• Advisory Role in Kyrgyzstan: On April 3, 2025, CZ signed a memorandum of understanding with Kyrgyzstan’s National Investment Agency (NIU), appointing him as an advisor to shape the country’s crypto and blockchain ecosystem. This partnership includes providing infrastructure support, technical expertise, and educational programs in crypto management and cybersecurity. CZ described this work as “extremely meaningful,” emphasizing blockchain’s role beyond trading (ChainCatcher - CZ signs MoU with Kyrgyzstan, Cointelegraph - CZ to advise Kyrgyzstan). Kyrgyz President Sadyr Zhaparov announced the collaboration on X, noting its importance for modernizing the country’s technological infrastructure (TradingView News - Kyrgyzstan enlists CZ).

Gleb Kostarev and Vladimir Smerkis: Launch of Blum

Gleb Kostarev and Vladimir Smerkis, former Binance executives, have launched Blum, a new crypto platform aiming to transform trading by allowing users to trade directly from third-party wallets across multiple blockchain networks. Their backgrounds include:

• Roles at Binance: Kostarev was the regional head for Eastern Europe, CIS, Turkey, Australia, and New Zealand, while Smerkis was General Manager for CIS. Their experience positions them to innovate in the crypto trading space.
• Blum’s Features and Launch: Announced in March 2024, Blum is a hybrid crypto exchange merging centralized and decentralized exchange (CEX/DEX) facilities, accessible via a Telegram mini-app. It enables direct trading from external wallets, streamlining the process by automating token listings through software checks on technology, liquidity, and user base (Bloomberg - Ex-Binance Executives Launch Blum, Coinspeaker - Former Binance Executives Unveil Blum). Blum launched officially in July 2024, gaining over 50,000 signups in its first 48 hours and a Telegram community surpassing 32 million members, with 2.2 million unique wallets showing high on-chain activity (BeInCrypto - Blum Raises $5 Million).
• Innovative Approach: Blum’s gamified model, initially tap-to-earn and transitioning to trade-to-earn, has attracted significant attention, positioning it as a major player in decentralized trading within the TON ecosystem.

Funding and Support from YZi Labs

YZi Labs has played a crucial role in supporting new ventures by former Binance executives. Key funding details include:

• Investment in Sign: In January 2025, YZi Labs led a $16 million funding round for Sign, focusing on on-chain credential verification and token distribution, aligning with CZ’s vision for trustworthy blockchain infrastructure (CoinMarketCap - YZi Labs Invests First $16M).
• Investment in Blum: Blum raised $5 million in a funding round led by gumi Cryptos Capital, with participation from YZi Labs, Spartan, No Limit Holdings, OKX Ventures, and others. This round, reported on February 12, 2025, aims to enhance Blum’s AI-powered trading platform, including its trading bot and Memepad, with a focus on multichain support within the TON ecosystem (BeInCrypto - Blum Raises $5 Million, ICO Drops - Blum Funding Rounds). This investment aligns with YZi Labs’ strategy to support innovative projects led by former Binance executives.

Blockchain Forum 2025 Moscow and Aleksei Dolgikh’s Report

At the Blockchain Forum 2025 in Moscow, Aleksei Dolgikh, a prominent figure in the Russian blockchain community, reported on the activities of ex-Binance executives. He highlighted that Kostarev and Smerkis raised $5 million from YZi Labs for Blum, reinforcing the connection between CZ’s network and innovative crypto projects. This funding round was part of the broader narrative of YZi Labs’ support for Blum, as confirmed by multiple sources (TheBlockBeats - Blum Funding from YZi Labs).

Summary Of Stakeholders

Blum raised $5 million in a funding round announced on February 12, 2025, led by gumi Cryptos Capital, with participation from several prominent crypto-focused venture capital firms. The following list details the investors:

• Gleb Kostarev: Co-founder of Blum and former Binance regional head. Recently launched Blum, a crypto platform for direct trading from third-party wallets. Raised $5 million from YZi Labs (part of a larger round led by gumi Cryptos Capital).
• Vladimir Smerkis: Co-founder of Blum and former Binance General Manager for CIS. Launched Blum, a crypto platform for direct trading from third-party wallets. Raised $5 million from YZi Labs (part of a larger round led by gumi Cryptos Capital).
• YZi Labs: Rebranded venture capital arm of Binance. Invested in crypto projects like Sign ($16 million) and Blum ($5 million).
• Blum: New crypto platform that allows direct trading from third-party wallets and streamlines the token listing process. Raised $5 million from YZi Labs and other investors.
• gumi Cryptos Capital: A Silicon Valley-based venture capital firm with offices in Japan, gumi Cryptos Capital led the funding round. Founded by Hironao Kunimitsu, Miko Matsumura, and Rui Zhang in 2018, the firm focuses on early-stage blockchain and crypto projects, with notable investments in Theta, OpenSea, and Agoric (gumi Cryptos).
• YZi Labs: The rebranded venture capital arm of Binance, based in Hong Kong, YZi Labs is led by Changpeng Zhao (CZ) and Binance co-founder Yi He. It participated in Blum’s funding round, aligning with its strategy to support innovative crypto projects (YZi Labs).
• The Spartan Group: A Singapore-based crypto-native digital asset advisor and venture studio, The Spartan Group joined the funding round. Founded in 2017, it invests in Web3 and blockchain ventures, with a focus on Asia (Spartan Group).
• No Limit Holdings: Headquartered in Grand Cayman, Cayman Islands, No Limit Holdings is an investment partnership focused on global crypto assets. Founded in 2022, it has invested in 64 blockchain projects, including Blum (PitchBook).
• OKX Ventures: The investment arm of OKX, a leading cryptocurrency exchange registered in Seychelles with offices in Hong Kong, OKX Ventures participated in the round. OKX, founded by Star Xu in 2017, supports blockchain innovation globally (OKX).
• Wintermute: A crypto market maker and liquidity provider, Wintermute participated in the funding round. Its headquarters are not explicitly stated, but it operates globally in the crypto market (CryptoRank.io).
• Bitscale Capital: A venture capital firm focused on blockchain and crypto, Bitscale Capital joined the funding round. Its location is not specified in available sources, but it is active in global crypto investments (CryptoRank.io).
• Other Investors: Additional investors were involved but not named in public reports, likely including smaller funds or angel investors in the crypto space.
• Changpeng Zhao (CZ): Co-founder and former CEO of Binance. Recently rebranded Binance Labs into YZi Labs, appointed as an advisor to Kyrgyzstan's NIU, and advises multiple governments on crypto and blockchain. Led a $16 million funding round for Sign and invested in Blum via YZi Labs.

Conclusion and Implications

The activities of ex-Binance executives, particularly CZ, Kostarev, and Smerkis, demonstrate the ongoing innovation and influence within the crypto space. CZ’s advisory roles and YZi Labs’ investments, including in Blum, highlight a strategic effort to expand blockchain applications globally. Blum’s rapid growth and funding underscore the potential for new platforms to disrupt traditional crypto trading, supported by networks from former Binance leadership. The Blockchain Forum 2025 in Moscow further emphasized these developments, reinforcing the interconnectedness of these ventures.

This analysis, current as of April 21, 2025, provides a detailed snapshot of the evolving landscape shaped by these key figures in the crypto industry.

Key Citations

• Forbes - Changpeng Zhao profile
• Wikipedia - Changpeng Zhao biography
• Reuters - CZ sentenced to four months
• Crypto.news - CZ considers biotech investment
• CoinMarketCap - YZi Labs invests in Sign
• ChainCatcher - CZ signs MoU with Kyrgyzstan
• Cointelegraph - CZ advises Kyrgyzstan on crypto
• TradingView News - Kyrgyzstan partners with CZ
• Bloomberg - Ex-Binance executives launch Blum
• Coinspeaker - Former Binance executives unveil Blum
• BeInCrypto - Blum raises $5 million for AI trading
• ICO Drops - Blum funding rounds and token sale
• TheBlockBeats - Blum funding from YZi Labs reported

Support Aleksei DOLGIKH Artials

* Overview by your CoinMarketCap truly Aleksei Dolgikh | for hate, support, love and collaborations, donate: at my BTC wallet bc1qvf6hlcnlqttj02gcl65v4x44u9aayly58gdfuz or at my SOL wallet 7JpUfPq3XQ6r1oRy16ne2HtzZ7XjmRigatkRL2kfSpQ1 or at my TON wallet UQApDresuUB2SoP5aBUDDg06bKgcHAWTRAYBddKluZhHZ3UE or at my ETH/BNB wallet 0x211D91beD006f7bB3Eaf97496260a8F905298Cea | 👨🏼‍🌾🦄 Any time text Aleksei Dolgikh in WA/Botim +79528485427, newer awailable for incoming call, there is always one scenario, you write a text, I call if I want to :)

BLUM Token and YZi Labs Investment Report

Overview

This report provides a comprehensive analysis of the BLUM token, its current status, and its association with YZi Labs as of April 21, 2025. The BLUM token is the native cryptocurrency of the Blum platform, a hybrid decentralized exchange (DEX) that integrates centralized and decentralized trading features. Backed by YZi Labs, formerly Binance Labs, Blum has garnered significant attention for its innovative approach to multi-chain trading. This report also explores tokens comparable to BLUM, such as BNB, and other YZi Labs portfolio tokens, providing insights into their roles and market potential.

Background

Blum, launched in June 2024 as a Telegram-based game, evolved into a promising cryptocurrency project by offering a platform for trading tokens across over 30 blockchain networks. Co-founded by former Binance executives Gleb Kostarev and Vladimir Smerkis, Blum has attracted over 50 million users and a Telegram community exceeding 32 million. The platform’s hybrid model, accessible via a Telegram mini-app, supports gamified user engagement and seamless trading, positioning it as a competitor in the DEX space (Blum Official).

YZi Labs, rebranded from Binance Labs in January 2025, is the venture capital arm led by Changpeng Zhao (CZ) and Binance co-founder Yi He. With a portfolio of over 250 projects and assets approximating $10 billion, YZi Labs invests in Web3, AI, and biotechnology ventures. Its investment in Blum, alongside participation in the Binance Labs MVB VII Accelerator Program, underscores Blum’s potential (YZi Labs).

BLUM Token Details

The BLUM token (ticker: BLUM) is integral to the Blum ecosystem, enabling transactions, staking, and community participation. Key details include:

• Current Status: As of April 21, 2025, BLUM is in pre-market trading on MEXC, which began on April 3, 2025, at 15:00 (UTC+8). This pre-market phase involves trading BLUM Points, not the final token, based on a predetermined maximum supply (MEXC Pre-Market).
• Token Generation Event (TGE): The TGE is scheduled for Spring 2025, with sources specifying April 2025, indicating an imminent official listing (Bitget Academy).
• Airdrop: An airdrop was initially rumored for September 20, 2024, but the Blum team clarified that no specific date was confirmed. A no-criteria airdrop is planned alongside the TGE, offering opportunities for community participation (Bitrue Blog).
• Total Supply: The total supply is reported as 100 million tokens, though some sources suggest a 1 billion token supply, indicating potential discrepancies in early reports (Binance Square).

Price Predictions

Price predictions for BLUM are speculative and vary widely:

• Short-Term (2025): Analysts estimate an initial listing price of $0.02–$0.05, with potential growth to $0.40 by the end of 2025, driven by Blum’s user base and multi-chain strategy (CoinCodex).
• Medium-Term (2030): Some forecasts suggest an average price of $1.05 by 2030, with optimistic scenarios reaching $5 if decentralized exchange adoption increases (Coingabbar).
• Long-Term (2050): Highly speculative predictions propose prices as high as $50, assuming widespread platform adoption, though these should be approached with caution due to market volatility (Hokanews).

Listing Status

• MEXC Pre-Market: BLUM Points are tradable on MEXC, providing early access before the official spot market listing (ChainCatcher).
• Major Exchanges: No official listing on Binance has been confirmed as of April 21, 2025, despite speculations due to YZi Labs’ involvement. Other potential exchanges include Gate.io, OKX, Bitget, Bybit, and XT.COM, but negotiations are ongoing (ABC Money).
• Community Buzz: An X post from April 14, 2025, noted a pre-market launch on MEXC, reinforcing that BLUM is tradable but not yet officially listed (X Post).

YZi Labs’ Investment in Blum

YZi Labs’ investment in Blum, reported as part of a $5 million funding round in February 2025, aligns with its strategy to support innovative Web3 projects. The round was led by gumi Cryptos Capital, with participation from The Spartan Group, No Limit Holdings, OKX Ventures, Wintermute, and Bitscale Capital (CryptoRank). Blum’s selection for the Binance Labs MVB VII Accelerator Program further solidifies YZi Labs’ commitment, providing mentorship and resources to enhance platform security and user experience (Bitget Price).

YZi Labs’ broader portfolio includes over 250 projects, with notable crypto investments:

• Sign: A $16 million investment in January 2025 for a platform simplifying token distribution and on-chain credential verification (CoinDesk).
• Sky Mavis (AXS): Developer of Axie Infinity, a blockchain-based game.
• LayerZero (ZRO): A cross-chain communication protocol.
• Aptos Labs (APT): A layer-1 blockchain focused on scalability.
• Polygon (POL): A layer-2 scaling solution for Ethereum (Investing).

These investments highlight YZi Labs’ focus on diverse blockchain applications, from gaming to infrastructure, with BLUM fitting into the DEX category.

Comparison to BNB and Other Tokens

The BLUM token is often compared to BNB due to its role as a native exchange token:

• BNB: The native token of Binance, used for trading fees, staking, and governance within the Binance ecosystem. BNB’s market cap and utility make it a benchmark for exchange tokens.
• BLUM: Serves similar functions within Blum, facilitating transactions, staking, and community engagement. Its multi-chain support and Telegram integration differentiate it, targeting a younger demographic like Gen Z and Millennials (Bitget Price).
• Other YZi Labs Tokens:
  AXS: Powers Axie Infinity’s gaming ecosystem, focusing on play-to-earn mechanics.
  ZRO: Enables cross-chain interoperability, enhancing blockchain connectivity.
  APT: Drives transactions on the Aptos blockchain, emphasizing scalability.
  POL: Supports Ethereum scaling via Polygon’s layer-2 solutions.

While BLUM is not yet as established as BNB, its backing by YZi Labs and rapid user growth suggest potential to emulate BNB’s success in the DEX space.

Market and Community Impact

Blum’s rapid growth is evident in its community and market traction:

• User Base: Over 50 million traders, with 2.2 million unique wallets showing high on-chain activity (Coingabbar).
• Telegram Community: Exceeds 32 million members, one of the largest crypto communities on Telegram, particularly strong in Eastern Europe and CIS (ABC Money).
• Airdrop Campaign: Launched in June 2024, the airdrop encouraged user interaction through games and referrals, boosting engagement (CoinMarketCap).

The $5 million funding round supports Blum’s development of AI-powered trading tools, multichain support, and its Memepad, positioning it as a leader in decentralized trading within the TON ecosystem.

Conclusion

The BLUM token, currently in pre-market trading on MEXC, is poised for significant growth with its TGE scheduled for April 2025. YZi Labs’ investment and Blum’s inclusion in the MVB VII Accelerator Program highlight its potential in the DEX space. Comparable to BNB as a native exchange token, BLUM also aligns with other YZi Labs-backed tokens like AXS, ZRO, APT, and POL, each serving distinct blockchain ecosystems. While official listings on major exchanges like Binance are pending, Blum’s multi-chain strategy and massive user base suggest a promising future. Investors should monitor official announcements for precise listing details and approach price predictions with caution due to market volatility.

PS: HEY SOYUZniki

Small personal remark. I glad to know mr Smerkis through our friends in Dubai, your truly and Olga Nayda really appriciate support of Rustam Burkeev and inroduction to mr Alex Butmanov who's bring all this brilliant SOYUZniki people together 👨🏼‍🌾❤️ With love and gratefulness, Aleksei Dolgikh!