Binance CZ Makes a Notable Return to the Crypto Market with a $16M Investment in Sign

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.

Former Binance CEO Changpeng Zhao (CZ) has made his first crypto investment since completing a prison sentence. He invested $16 million in Sign, a blockchain platform that specializes in token airdrops and on-chain credential verification. This marks CZ's return to the crypto space after serving time for a $4.3 billion settlement with U.S. authorities.

Since his release, CZ has shifted his focus to AI, biotech, and blockchain technology. His latest venture aligns with the surge in token launches and the demand for reliable token distribution solutions.

Sign assists crypto founders and governments in streamlining token distribution processes, emphasizing transparency and identity verification.

Meanwhile, Coinbase CEO Brian Armstrong has highlighted the rapid expansion of digital asset creation, estimating that 1 million new tokens are launched weekly. This has prompted a need to rethink listing processes and evaluate regulatory approaches.

Sign’s growth has been fueled by the growing popularity of token airdrops, mainly on the TON blockchain. The company's revenue increased from $1.7 million in 2023 to $15 million in 2024.

Sign's CEO and co-founder attributes this growth to the widespread adoption of the TON blockchain, which boasts a large and active user base. This enables efficient large-scale airdrops and expands Sign's reach.

CZ's cautious stance on meme coins

Despite his return to the crypto space, CZ 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.

I can see both sides of the argument. And I can't say I know which is right or wrong.

Potential arguments for memes:

Crypto is not a zero-sum game. Some of the people buying $trump were probably not in crypto before. So it probably helped to grow the space, even if just a…

CZ 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.

The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.