Binance founder Changpeng Zhao (CZ) addressed speculation about his involvement with the decentralized perpetual exchange Aster DEX in a social media post on X. He confirmed that several former Binance employees are part of the Aster team and disclosed that YZi Labs, Binance's venture arm, holds a minority stake in the project. However, CZ explicitly stated, "I'm not on the team, I'm just an advisor," emphasizing that his role is limited to product and technical guidance, with no input on regulatory matters due to past legal issues.
Aster, which launched its ASTER token on September 17, 2025, has quickly gained traction, recording $545 million in total value locked (TVL) and $1.7 billion in weekly trading volume. The token's price has been highly volatile: it reached an all-time high of $2.42 four days prior but has since fallen 25%, trading at $1.79 with a 7.18% dip in the last 24 hours. Despite this, ASTER rallied nearly 90% over the week, recovering from an earlier 30% correction.
CZ noted that while Aster competes with Binance, it benefits the BNB ecosystem in the long run. He has actively promoted Aster on X, criticizing rival DEX Hyperliquid for privacy shortcomings. Community reactions have been mixed, with some users expressing bullish sentiments, citing CZ's advisory role and upcoming events like an airdrop on October 5 and an L1 chain launch. Analysts remain divided on Aster's long-term prospects, pointing to whale activity and competitive pressures.
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