- CZ invests $16M in Sign, making his first crypto move after $4.3B settlement.
- Sign’s revenue increases, growing from $1.7M in 2023 to $15M in 2024.
- CZ cautions about meme coins’ speculative nature and reflects on the collapse of FTX.
Changpeng Zhao, the former CEO of Binance, has made a notable return to the crypto market with a $16 million investment in Sign, a blockchain platform specializing in token airdrops and on-chain credential verification.
This marks his first crypto investment since completing a prison sentence tied to a $4.3 billion settlement with U.S. authorities. Since his release, Zhao has pivoted his focus toward AI, biotech, and blockchain technology.
His investment in Sign, facilitated through YZi Labs, aligns with the surge in token launches and the rising demand for reliable token distribution solutions. According to reports, Sign aims to assist crypto founders and governments in streamlining token distribution processes, emphasizing transparency and identity verification.
Brian Armstrong, CEO of Coinbase, has also highlighted the rapid expansion of digital asset creation, estimating that 1 million new tokens are launched weekly.
Sign’s Growth Fueled by TON Blockchain
Sign’s growth has been fueled by the growing popularity of token airdrops, mainly on the TON blockchain. However, in 2024, Sign’s revenue raised from $1.7 million in 2023 to $15 million.
Related: Binance CZ Addresses Memecoin Hype: No Purchases, But No Opposition Either
Xin Yan, Sign’s CEO and co-founder, attributes this growth to the widespread adoption of the TON blockchain. The platform leverages a large and active user base, enabling efficient large-scale airdrops and expanding its reach.
CZ’s Take on the Crypto Market and Meme Coins
Despite his return to the crypto space, Zhao remains cautious. He recently addressed the hype around meme coins, such as the TRUMP coin, noting their ability to attract new participants seeking market volatility. However, he also expressed concerns about their speculative nature and lack of intrinsic value.
Related: Binance CZ Declares Crypto as AI’s Currency of Choice, Highlighting Role in Efficiency
Zhao also commented on the collapse of the FTX exchange, stating that while FTX could have theoretically covered its liabilities based on past asset values, the company’s downfall was inevitable due to the massive loss in asset value. He estimated that users lost 70–80% of their holdings’ value after the collapse.
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