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Fortune

Catherine McGrath

Billionaire Binance founder 'CZ' jumps back into crypto with $16 million investment in token airdrop service Sign

SIGN Binance Crypto Zhao Binance Labs Ton

(Credit: Ben McShane/Sportsfile for Web Summit—Getty Images)

After Bitcoin, which rely entirely on mining to distribute tokens.

The investment in Sign comes at a time when the number of token launches are exploding. As it becomes easier to launch new cryptocurrencies using AI and other tools, there are about 1 million new cryptocurrencies created each week, according to Coinbase CEO Brian Armstrong.

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