Crypto News (January 29, 2025) – YZi Labs Rebrands and Expands Focus with Investment in Sign
Crypto News (January 29, 2025) – YZi Labs, the venture capital firm formerly known as Binance Labs, has made its first investment since rebranding by funding Sign, an on-chain token distribution infrastructure provider. The investment round raised a total of $16 million, with other participants including Altos Ventures, HackVC, and Amber Ventures, according to Fortune.
Sign’s Mission to Revolutionize Token Distribution
Founded in 2021, Sign aims to create a more transparent method for users and AI agents to receive and manage crypto tokens. The platform offers a range of services, including EthSign for contract signing, TokenTable for managing digital tokens, and Sign Protocol for verifying information on the blockchain. The platform’s goal is to streamline and improve the Web3 ecosystem by providing innovative solutions for token distribution.
Nicola Wang, Investment Director at YZi Labs, stated in a press release: “Sign’s vision for mass Web3 onboarding aligns with YZi Labs’ commitment to pushing the boundaries of transformative innovation and driving forward innovation across the Web3 ecosystem and beyond.”
YZi Labs Rebrands and Expands Focus
In a significant move, former Binance CEO Changpeng Zhao (CZ) rebranded Binance Labs to YZi Labs last week, shortly after completing a four-month prison sentence in September. While CZ has stepped down from his role managing Binance’s centralized exchange, YZi Labs confirmed that he would still play a “pivotal role” in investment activities.
In the official rebrand announcement, CZ mentioned: “Rebranding to YZi Labs is more than a name change—it signifies an expanded vision as we broaden our horizons to include transformative sectors like AI and biotech.”
YZi Labs, which currently manages around $10 billion, has invested in over 250 projects across various sectors, including notable companies like Sky Mavis, LayerZero, Aptos Labs, and Polygon. The firm’s shift in focus is part of its broader strategy to support the growth of AI, blockchain, and biotech industries.
This investment in Sign marks a new chapter for YZi Labs as it continues to expand its presence in the Web3 and blockchain space.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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