Yzi Labs, an important company in the crypto world, invested $ 16 million in the Sign platform, which provides token distribution. According to Fortune, Altos Ventures, HACKVC and Amber Ventures also participated in this investment tour. This was Yzi Labs’s first investment with the name of Binance Labs and his new name.
Investment from the company where Binance founder plays an active role
Changpeng Zhao, usually known as “CZ ,, begins to continue his commercial activities again months after release from prison. In recent weeks, Zhao, who was estimated to be 70 billion dollars due to a strong crypto currency rally, turned the old venture capital branch of Binance Holdings Ltd into a family office. In other words, the unit, known as Binance Labs, is now operating as Yzi Labs. The organization manages approximately $ 10 billion in crypto assets. In addition, Ella Zhang, who founded Binance Labs in 2018 and left in 2020, returned to lead Yzi Labs. Now, this company has come to an investment in a project called Sign.
Sign is a platform established in 2021 and enables users and artificial intelligence programs to get crypto tokens more transparently. The platform offers information verification services with ETHSİGN, digital token management with tokentable, and Blockchain with Sign Protocol. Sign’s services aim to create a more reliable and decentralized environment in the Web3 ecosystem. While users can carry out safe transactions thanks to smart contracts, artificial intelligence -based vehicles contribute to the process of processing the process more efficiently.
CZ active in investment activities
Yzi Labs Investment Director Nicola Wang said, “Sign’s vision to make the web3 world accessible to everyone is fully compatible with our goal of supporting innovation. We will continue to invest in such projects. ” This investment coincided with the reshaping of the Yzi Labs brand by Changpeng Zhao (CZ), Binance’s former CEO. After completing his four -month imprisonment in September, CZ renamed Binance Labs as Yzi Labs. Although the CZ reserves his position on the Binance Exchange, Yzi Labs will continue to play an important role in investment activities.
“The transition to Yzi Labs is not only a name change, but also a part of our plan to turn to new areas such as artificial intelligence and biotechnology,” CZ said last week. Yzi Labs, which manages an investment fund of approximately $ 10 billion, has supported more than 250 projects such as Sky Mavis, Layerzero, Aptos Labs and Polygon. In the future, the company aims to expand the web3 ecosystem by investing in similar projects in the future and to ensure that Blockchain technology is adopted wider. Yzi Labs continues to be a subject of great curiosity which projects will invest in the future.
