Binance founder Changpeng Zhao has clarified his role with perpetual DEX Aster after community speculation about his involvement with the project.
Summary
- CZ denies being on Aster’s team, says he’s only an advisor with a small stake
- Aster competes with Binance but still benefits BNB, says CZ
- ASTER token surged 7,000% since launch, driving speculation on CZ’s role
Zhao, aka CZ, confirmed that several former Binance employees are part of the Aster (ASTER) team and that his venture capital firm YZi Labs holds a minority stake in the platform.
The clarification came after an X user claimed CZ said during Spaces that he was “part of the Aster team,” prompting the Binance founder to respond directly.
“Not on the team, just an advisor,” Zhao said. While Aster competes with Binance, it ultimately benefits BNB, he added.
Confusion about Zhao’s involvement with Aster
The confusion about Zhao’s role emerged after market speculation surrounding his involvement with Aster.
One X user posted about holding 300,000 ASTER tokens, claiming CZ confirmed his team participation during X Spaces and setting price targets at $40 based on this perceived endorsement.
Zhao’s quick correction aimed to clarify the nature of his involvement amid growing market interest in the perpetual trading platform.
The ASTER token has experienced significant price movements since launch, surging over 7,000% from its initial price and reaching an all-time high of $2.41 on September 24. This growth has attracted both retail and institutional attention to the decentralized perpetuals space.
Aster competes with Binance, but helps BNB
Zhao’s comment that Aster “competes with Binance, but helps BNB” shows a nuanced view of ecosystem competition.
This perspective suggests that successful competitors can drive adoption that benefits the overall crypto ecosystem, including Binance’s native token.
Zhao’s public endorsement has amplified Aster’s visibility, with his initial congratulatory post following the token launch helping cause massive market interest.
However, he has consistently denied allegations of market manipulation to favor Aster over competitors like Hyperliquid.
The clarification comes as the perpetual DEX space experiences quick growth and competition.
