After serving a four-month prison sentence in the U.S. for violating anti-money laundering laws, former Binance CEO Changpeng ‘CZ’ Zhao is back in the crypto world. His first big move? Investing $16 million in blockchain platform Sign, signaling his return to the industry.
We know you’re curious to know what this means for your holdings. Read on.
Investing in Blockchain Growth
On January 28, YZi Labs (formerly Binance Labs) shared on X that they had invested in Sign, a blockchain-based token airdrop service. The company’s goal is to improve global token distribution for both people and AI agents, marking a significant step toward broader blockchain adoption.
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 focuses on distributing new cryptocurrencies through airdrops, rewarding early adopters, and encouraging participation in blockchain projects. Its standout feature is its secure token launch system, which uses strict rules and identity verification for all participants—ensuring the platform’s reliability and trustworthiness.
Impressive Growth and Future Plans
Since launching in 2021, Sign has experienced impressive growth. The company earned $1.7 million in revenue in 2023, but that figure surged to $15 million in 2024. According to Sign’s CEO and co-founder, Xin Yan, the growth is largely due to the success of the Open Network (TON) blockchain, which saw a significant increase in token airdrops last year.
With the new funding, Sign plans to expand globally and help governments incorporate blockchain technology. Its focus on on-chain identity verification could help make crypto safer and more widely accepted.
Support from Top Investors
Alongside CZ’s investment, other major investors in this funding round include Altos Ventures, HackVC, and Amber Ventures. Their backing further demonstrates strong confidence in Sign’s potential to make an impact in the blockchain and crypto space.
It seems like CZ is here to stay and he’s making his presence known!
Source: https://coinpedia.org/news/binance-cz-returns-to-crypto-with-16-m-investment-into-sign-after-prison/