YZi Labs, formerly known as Binance Labs, made their first investment post-rebranding by backing blockchain infrastructure provider Sign. The funding round also saw participation from Altos Ventures, HackVC, and Amber Ventures.
Partnership between YZi Labs and Sign
Founded in 2021, Sign aims to enhance transparency in on-chain token distribution for users and AI agents. Its services include EthSign for digital contract signing, TokenTable for token management, and Sign Protocol for verifying blockchain-based information.
CZ’s Return and YZi Labs’ Expansion
Following the recent rebranding of Binance Labs to YZi Labs, former Binance CEO Changpeng Zhao continues to influence the firm's investment decisions. Zhao stated that the name change signifies an expanded vision, including sectors like AI and biotech.
Future of Cryptocurrency Reserves
Speaking at the Bitcoin MENA conference in Abu Dhabi, Zhao suggested that China might adopt a strategic Bitcoin reserve, noting that smaller countries would likely take this step first, followed by larger nations like China.
YZi Labs' recent moves underscore their commitment to innovation and support for Web3 growth, as well as the potential role of major nations in adopting crypto reserves in the future.
