Former Binance CEO Changpeng Zhao has returned to the cryptocurrency space with a $16 million investment in Sign, a blockchain platform specializing in token airdrops and credential verification.
This marks his first crypto-related move since serving a four-month U.S. prison sentence tied to a $4.3 billion settlement with U.S. authorities. Zhao’s investment, facilitated through YZi Labs, highlights his focus on blockchain infrastructure at a time when token launches are increasing rapidly.
Also Read: French Authorities Launch Judicial Probe into Binance for Money Laundering and Tax Fraud
Sign’s Expansion Driven by the TON Blockchain
Sign has experienced significant growth due to the rising adoption of token airdrops, particularly on the TON blockchain. The company reported a revenue increase from $1.7 million in 2023 to $15 million in 2024.
CEO and co-founder Xin Yan attributed this surge to the platform’s ability to handle large-scale airdrops efficiently while ensuring transparency in token distribution. Sign’s flagship product, TokenTable, aims to address challenges in the airdrop process by verifying participant identities and setting clear distribution rules.
Projects and cryptocurrency founders depend heavily on airdrops to transfer tokens and gain new users because the cryptocurrency market shows increasing issuance of new assets.
Sign verification tools gained traction as founders and projects need solutions to address concerns about fraudulent asset distribution and identity manipulation. Through its investment plan, the company aims to accomplish international expansion while connecting with governments to implement on-chain identity verification.
CZ’s Perspective on the Crypto Market and Meme Coins
Despite returning to the crypto sector, Zhao remains cautious about specific trends, particularly the rise of meme coins. Addressing the ongoing hype, he acknowledged their role in attracting new participants to the market.
He noted that some investors seek volatility but highlighted the lack of intrinsic value in these tokens. Through his recent social media posts, Zhao shared his thoughts on meme coin controversies, including the TRUMP coin.
The crypto ecosystem benefits from meme coins as new investor avenues, but some people dismiss these tokens as not being genuinely valuable assets for the future. Crypto exists in a decentralized space where everyone can decide about meme coin participation.
While he hasn’t directly invested in meme coins or NFTs, Zhao disclosed that he supports different approaches people take toward investing in cryptocurrency markets.
YZi Labs, formerly Binance Labs, manages $10 billion in crypto-related assets. Since his release, Zhao has focused on investments in artificial intelligence, biotechnology, and blockchain.
The investment in Sign marks his first step back into the crypto industry, aligning with his interest in supporting blockchain infrastructure and technological innovation.
With additional backing from Altos Ventures, HackVC, and Amber Ventures, Sign aims to strengthen its position in the token distribution sector and expand its influence in blockchain-based identity verification.
Zhao’s involvement signals a growing focus on security and efficiency in the evolving digital asset market.
Also Read: YZi Labs Rebrands From Binance Labs, Expands Into AI and Biotech Investments
