Binance Founder CZ Clarifies Aster Connection: “Only an Advisor”
Changpeng Zhao, the founder of Binance, has addressed recent community speculation regarding his involvement with the perpetual DEX Aster.
Summary
- CZ states he is not part of Aster’s team; he is merely an advisor with a minor stake.
- Aster, while a competitor to Binance, still provides benefits to BNB, according to CZ.
- The ASTER token has skyrocketed 7,000% since its launch, fueling speculation about CZ’s involvement.
Zhao, also known as CZ, confirmed that a number of former Binance employees are affiliated with the Aster (ASTER) team and that his venture capital firm, YZi Labs, holds a minority equity stake in the platform.
This clarification followed a claim from an X user alleging that CZ stated he was “part of the Aster team” during a Spaces session, prompting Zhao to address the situation directly.
“Not on the team, just an advisor,” Zhao stated. Even though Aster competes with Binance, he emphasized that it ultimately supports BNB.
Clarification on Zhao’s role with Aster
The uncertainty around Zhao’s role stemmed from market speculation regarding his association with Aster.
Another user on X mentioned holding 300,000 ASTER tokens, asserting that CZ confirmed his team participation during an X Spaces session and set price targets at $40 based on this perceived endorsement.
Zhao’s swift clarification was intended to outline the specifics of his engagement amidst rising market interest in the perpetual trading platform.
Since its launch, the ASTER token has shown remarkable price volatility, increasing over 7,000% from its initial value and hitting a peak of $2.41 on September 24. This significant growth has garnered attention from both retail and institutional investors in the decentralized perpetual trading sector.
Aster, a competitor to Binance, yet beneficial for BNB
Zhao’s assertion that Aster “competes with Binance, but helps BNB” reflects a more nuanced perspective on ecosystem competition.
This viewpoint implies that thriving competitors can drive adoption that ultimately benefits the broader cryptocurrency ecosystem, including Binance’s native token.
Zhao’s public acknowledgment has increased Aster’s visibility, with his initial congratulatory message post-launch significantly contributing to market enthusiasm.
Nevertheless, he has consistently refuted allegations of market manipulation to favor Aster over competing platforms like Hyperliquid.
This clarification arrives at a time when the perpetual DEX sector is experiencing rapid growth and increasing competition.