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coinpedia 2025-01-29 06:56:18

Binance CZ Returns to Crypto with $16 M Investment Into Sign After Prison

Binance CZ Returns to Crypto with $16 M Investment Into Sign After Prison

The post Binance CZ Returns to Crypto with $16 M Investment Into Sign After Prison appeared first on Coinpedia Fintech News After serving a four-month U.S. prison sentence for violating anti-money laundering laws, former Binance CEO Changpeng ‘CZ’ Zhao has wasted no time re-entering the crypto world. His first move? Investing in blockchain platform Sign through YZi Labs , marking his return with a $16 million funding round. CZ Makes a Comeback with $16M Investment On 28 Jan YZi Labs (formerly known as Binance Labs) announced through X post that they have invested in Sign, a blockchain-based token airdrop service. The company aims to boost global token distribution for both humans and AI agents, signaling a major step forward in blockchain adoption. https://t.co/8hEBp502dB — YZi Labs (@BinanceLabs) January 28, 2025 Reports confirm that CZ actively participated in this $16 million funding round. Although he had shown interest in biotech after stepping down from Binance, he still supports blockchain, Web3, and DeFi startups. Despite restrictions that prevent him from holding executive roles at Binance or influencing its decisions, CZ’s investment in Sign shows he’s still active in the crypto world. Why Did CZ Choose Sign? Sign is a platform that focuses on distributing newly launched cryptocurrencies through airdrops, rewarding early adopters, and encouraging participation in blockchain projects. What sets Sign apart is its secure token launch system, which ensures strict rules and identity verification for all participants. Since its launch in 2021, Sign has seen incredible growth. The company made $1.7 million in revenue in 2023, but that number skyrocketed to $15 million in 2024. Earlier in a press release Sign CEO and co-founder Xin Yan credits this success to the Open Network (TON) blockchain, which experienced a surge in token airdrops last year. Bold Vision for Blockchain Adoption With fresh funding, Sign plans to expand globally and help governments integrate blockchain technology. The platform’s focus on on-chain identity verification could play a crucial role in making crypto safer and more widely accepted. Other investors in this funding round included Altos Ventures, HackVC, and Amber Ventures, further solidifying confidence in Sign’s potential.

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