From Binance to Signal: CZ’s $16 Million Crypto Comeback

• CZ invests $16M in Signal, making his first crypto transfer after $4.3B settlement.  
• Signal’s income will increase, rising from $1.7M in 2023 to $15M in 2024.  
• CZ cautions about meme cash’ speculative nature and displays on the collapse of FTX.

Changpeng Zhao, the previous CEO of Binance, has made a notable return to the crypto market with a $16 million funding in Signal, a blockchain platform specializing in token airdrops and on-chain credential verification.

This marks his first crypto funding since finishing a jail sentence tied to a $4.3 billion settlement with U.S. authorities. Since his launch, Zhao has pivoted his focus towards AI, biotech, and blockchain know-how.

His funding in Signal, facilitated by YZi Labs, aligns with the surge in token launches and the rising demand for dependable token distribution options. In line with reviews, Signal goals to help crypto founders and governments in streamlining token distribution processes, emphasizing transparency and id verification.

Brian Armstrong, CEO of Coinbase, has additionally highlighted the fast enlargement of digital asset creation, estimating that 1 million new tokens are launched weekly. 

Signal’s Progress Fueled by TON Blockchain

Signal’s progress has been fueled by the rising reputation of token airdrops, primarily on the TON blockchain. Nonetheless, in 2024, Signal’s income raised from $1.7 million in 2023 to $15 million.

Associated: Binance CZ Addresses Memecoin Hype: No Purchases, However No Opposition Both

Xin Yan, Signal’s CEO and co-founder, attributes this progress to the widespread adoption of the TON blockchain. The platform leverages a big and energetic person base, enabling environment friendly large-scale airdrops and increasing its attain.

CZ’s Tackle the Crypto Market and Meme Cash

Regardless of his return to the crypto area, Zhao stays cautious. He just lately addressed the hype round meme cash, such because the TRUMP coin, noting their means to draw new contributors in search of market volatility. Nonetheless, he additionally expressed issues about their speculative nature and lack of intrinsic worth.

Associated: Binance CZ Declares Crypto as AI’s Forex of Selection, Highlighting Position in Effectivity

Zhao additionally commented on the collapse of the FTX change, stating that whereas FTX might have theoretically lined its liabilities based mostly on previous asset values, the corporate’s downfall was inevitable because of the huge loss in asset worth. He estimated that customers misplaced 70–80% of their holdings’ worth after the collapse.