Former Binance CEO CZ Invests $16 Million in Blockchain Platform Sign
On January 28, Changpeng Zhao (CZ), founder of Binance, made his first investment in crypto post-settlement with US authorities. This settlement included a four-month prison sentence ending in September 2024.
CZ invested $16 million in Sign, a blockchain platform focused on token distribution and credential verification. Other investors included Altos Ventures, HackVC, and Amber Ventures.
CZ Invests Through YZi Labs
The investment was made through YZi Labs, formerly Binance Labs, which has rebranded to broaden its investment scope beyond blockchain into areas like artificial intelligence and biotechnology.
CZ indicated intentions to explore biotech investments after stepping down from Binance, while still showing interest in blockchain, Web3, and DeFi startups.
Despite restrictions preventing him from holding executive roles at Binance, CZ’s investment in Sign reflects ongoing engagement in the crypto sector. Sign plans to use the funds to enhance its global presence and assist governments in adopting crypto solutions.
Sign's revenue growth has been notable, increasing from $1.7 million in 2023 to $15 million in 2024, driven by activities on the TON blockchain, which facilitated large-scale token airdrops.