Binance Founder CZ Confirms Advisory Role at Aster Amid Token Surge
Binance Founder CZ Confirms Advisory Role at Aster Amid Token Surge

Binance Founder CZ Confirms Advisory Role at Aster Amid Token Surge

News summary

Binance founder Changpeng Zhao (CZ) has clarified his involvement with the decentralized perpetual trading platform Aster, stating he serves only as an advisor and is not part of the project’s core team. While several former Binance employees have joined Aster and his venture capital firm YZi Labs holds a minority stake, Zhao emphasized these connections do not imply direct control. Despite Aster competing with Binance’s derivatives business, Zhao noted that it ultimately benefits Binance’s native token BNB by expanding on-chain trading activity. The ASTER token has experienced a dramatic surge of over 7,000% since launch, reaching an all-time high of $2.44 and attracting significant institutional and retail interest. Zhao’s public clarifications came amid market speculation and rumors that he had endorsed the token at specific price targets, which he denied. His advisory role and prior congratulatory posts have amplified Aster’s visibility, but Zhao cautions investors against overstating his involvement or expecting market manipulation.

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