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CZ Returns: $16M Bet on Blockchain's Future

Coin WorldWednesday, Jan 29, 2025 3:38 am ET

1min read

Former Binance CEO Changpeng 'CZ' Zhao, after serving a four-month U.S. prison sentence for violating anti-money laundering laws, has returned to the crypto world with a significant investment. CZ, through YZi Labs (formerly known as Binance Labs), has invested $16 million in Sign, a blockchain-based token airdrop service.

Sign focuses on secure token airdrops, aiming to boost global token distribution for both humans and AI agents. The platform's secure token launch system ensures strict rules and identity verification for all participants. Since its launch in 2021, Sign has seen remarkable growth, with revenue jumping from $1.7 million in 2023 to $15 million in 2024.

CZ's investment in Sign signals his continued interest in blockchain, Web3, and DeFi startups, despite his previous expressed interest in biotech. Although he is restricted from holding executive roles at Binance or influencing its decisions, CZ remains active in the crypto world. Other investors in this funding round included Altos Ventures, HackVC, and Amber Ventures, further solidifying confidence in Sign's potential.

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, contributing to the broader adoption of blockchain technology.

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