CZ, who used to run Binance, is back in the game after spending four months in a U.S. prison. He’s working on a new project called YZi Labs, which is the revamped venture capital side of Binance. Just recently, YZi Labs announced its first investment, leading a $16 million funding round for a startup named Sign. This platform aims to make token distribution easier and introduce on-chain credential verification.
CZ mentioned in an email that proper distribution builds trust, and verification is a crucial part of that. As more users shift to on-chain activities, this aspect is vital for building a solid foundation. Sign has a range of offerings, but it’s mainly recognized for its airdrop service, which provides newly minted crypto tokens to early adopters. Airdrops are a recent development, unlike early blockchains like Bitcoin that relied solely on mining for distributing tokens.
But I did not see how this is related to bitcoin not to talk of it being in bitcoiln legal board. This is about Binance founder that is investing in tokens and not bitcoin.
You can post this on altcoins discussion board instead. It does not fit into bitcoin board at all. I also think this is not worth discussing about.
It's good to see a crypto focused angel fund available in the market. There are so many angel funds available for the mainstream businesses but not in crypto. I hope YZi Labs will help crypto businesses with investment to build the next big thing in crypto market.
I also hope, US administration will now become a little more friendly towards the crypto businesses and allow them to grow and prosper. Biden administration was very hostile to cryptos unfortunately.
If information about the most famous person in the crypto world doesn't fit in the legal section, I don't even know where to discuss it.
CZ had certain agreements with the US government, but now he will probably cost another big crypto company, which will have a big impact on the whole crypto world and on the legal law in this area.