CZ Zhao’s YZi Labs Invests $16M in Crypto Startup Sign

After a four-month U.S. prison sentence, former Binance CEO CZ Zhao has rebranded Binance’s venture capital arm as YZi Labs. Its first major investment is a $16 million funding round for Sign, a startup improving token distribution and on-chain credential verification.

Addressing Airdrop Challenges

Sign specializes in crypto airdrops, rewarding early users of blockchain projects. Unlike Bitcoin’s mining-based token distribution, airdrops have become a key strategy for engagement.

With AI simplifying cryptocurrency creation, 1 million new tokens emerge weekly, according to Coinbase CEO Brian Armstrong. Many use airdrops to boost credibility and liquidity, but issues like unfulfilled promises and exploitation by multiple-account users persist.

To counter this, Sign developed TokenTable, ensuring secure airdrops with identity verification. CEO Xin Yan reported revenue growth from $1.7M in 2023 to $15M in 2024, driven by TON blockchain’s large-scale airdrops.

Expansion & Zhao’s Comeback

Sign will use the funds for global expansion and government blockchain adoption. Investors include Altos Ventures, HackVC, and Amber Ventures. #cz #binance #airdrop