YZi Labs Investment Announcement

YZi Labs, the venture capital firm formerly known as Binance Labs, announced its investment in on-chain token distribution infrastructure provider Sign, marking its first investment since the rebrand.

According to Fortune, YZi Labs’ funding round was worth $16 million, with participants including Altos Ventures, HackVC, and Amber Ventures.

Founded in 2021, Sign seeks to create a more transparent method for users and AI agents to receive crypto tokens. The platform provides various services, including:

• EthSign for signing contracts
• TokenTable for managing digital tokens
• Sign Protocol for verifying information on the blockchain

Nicola Wang, Investment Director at YZi Labs, stated, “Sign’s vision for mass Web3 onboarding aligns with YZi Labs’ commitment to pushing the boundaries of transformative innovation and driving innovation across the Web3 ecosystem and beyond.”

The Block has reached out to YZi Labs for additional comments.

CZ’s Return

In related news, former Binance CEO Changpeng Zhao (CZ) recently rebranded Binance Labs to YZi Labs, following the closure of his four-month prison sentence in September.

Although CZ has stepped down from operating Binance’s centralized exchange, YZi Labs confirmed he will maintain a “pivotal role” in investment activities.

“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,” CZ stated during the rebrand announcement.

YZi Labs manages a portfolio of over 250 projects, having invested in companies like Sky Mavis, LayerZero, Aptos Labs, and Polygon. It oversees approximately $10 billion, according to Bloomberg.