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The Coin Rise 2025-01-29 23:39:42

YZi Labs Invests First $16M as CZ Returns to the Crypto Scene

YZi Labs, Binance Lab’s rebranded venture capital arm, recently made its first big move since founder Changpeng “CZ” Zhao’s release from prison . The firm led a $16 million funding round for Sign, a blockchain startup focused on improving token distribution and on-chain credential verification. The company now represents the family office of Zhao and Binance co-founder Yi He. This shift marks a major change, with Zhao now taking a more active role in crypto investments. The branded firm is moving away from its previous focus on the exchange’s capital ventures, setting its sights on foundational blockchain infrastructure. YZi Lab’s $16 Million Investment into Sign YZi Labs made its debut investment with a $16 million funding round into Sign. This startup aims to simplify the token distribution process while verifying credentials on-chain. Its goal is to provide a more trustworthy infrastructure as more people shift their activities to blockchain. In a recent statement, Zhao emphasized the importance of proper distribution and verification to build trust. As blockchain adoption grows, such infrastructure becomes increasingly vital for the industry’s success. Remarkably, Sign has seen rapid growth, with revenue surging from $1.7 million in 2023 to $15 million in 2024. This achievement came after its integration with the TON blockchain. The platform aims to use its new funding to expand globally and assist governments in embracing blockchain technology. A Fresh Start for YZi Labs Zhao was released in September after serving four months for violating the Bank Secrecy Act. As part of his guilty plea, he resigned as Binance CEO and paid a whopping $50 million fine. However, this has not slowed his ambitions. With the rebranding from Binance Labs to YZi Labs, the focus has shifted to investments led by Zhao and Yi He, with the firm now serving as their family office. This move aligns with Zhao’s vision of taking a hands-on approach to shaping the future of blockchain and cryptocurrency. He is focusing more directly on ventures that interest him and his co-founder. This new direction signals that YZi Labs will likely be more selective in its investment choices. The firm plans to shape the blockchain space beyond Binance. CZ’s Legal Woes Continues Even though Zhao has regained his freedom, his legal troubles, including Binanceare, are not over. In a fresh lawsuit, investors have accused the exchange of selling unregistered tokens that later lost value. The exchange initially filed to appeal these allegations. However, the U.S. Supreme Court regulators refused to hear the exchange and its founder’s plea. Because the appeal was rejected, the case will continue in lower courts. The lawsuit argues that U.S. laws apply to Binance since American investors used its platform. Even though Binance claims it operates outside the U.S., courts ruled that its activities fall under U.S. jurisdiction. The post YZi Labs Invests First $16M as CZ Returns to the Crypto Scene appeared first on TheCoinrise.com .

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