CZ clarifies rumors about involvement with Aster project

Binance founder Changpeng Zhao (CZ) has recently addressed speculation surrounding his connection to the decentralized perpetual exchange Aster, following growing rumors within the community.

Earlier, an X user claimed that CZ had “confirmed being part of the Aster team” during a Spaces session, even suggesting that ASTER could reach $40. The post quickly spread, sparking debates about CZ’s level of involvement in the project.

In a direct response, CZ stated: “Not on the team, just an advisor.” He added that while several former Binance employees are now part of Aster, his venture firm YZi Labs only holds a minority stake in the platform.

Although Aster is seen as a direct competitor to Binance, CZ noted that its development could indirectly benefit the BNB ecosystem. This view reflects the broader perspective that successful competitors can help expand the overall crypto market.

The ASTER token has seen sharp price movements since its launch, surging over 7,000% from its initial price and hitting an all-time high of $2.41 on September 24. This growth has attracted both retail and institutional interest, putting Aster in the spotlight within the decentralized perpetuals sector.

CZ also dismissed allegations of market manipulation in favor of Aster over competitors such as Hyperliquid. The clarification comes as the perpetual DEX market experiences rapid growth and intensifying competition.