Aster DEX has exploded onto the crypto scene with eye-catching volumes, but the project’s rapid rise has also drawn rumors linking it to Binance founder Changpeng Zhao.
On September 27, CZ addressed the speculation directly in a Twitter Spaces session, stressing that neither he nor Binance has any official ties to the exchange.
CZ clarified that while his venture arm YZi Labs holds a small stake, he has no personal investment in Aster. He added that a handful of ex-Binance employees now working on the project may have helped fuel assumptions of his involvement. “I don’t have personal investments in Aster, and Binance as a company is not involved,” he said, pushing back against exaggerated claims.
The denial comes as Aster records staggering growth. Built on BNB Chain, the multichain perpetuals exchange recently registered $46.9 billion in 24-hour trading volume, giving it a market cap of $3.4 billion. The speed of its rise has made it one of the most talked-about protocols in the market this month.
Aster’s token, ASTER, soared over 2,200% last week before cooling alongside the broader market. The token is now trading around $1.98 after hitting highs of $2.40. Analysts say holding the $2–$2.20 range is key; if support fails, a retest near $1.80 could follow, where new buyers may step in.
For now, Aster’s fundamentals – not CZ’s rumored backing – are driving its story. But with such unprecedented momentum, speculation around the project is unlikely to fade anytime soon.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/binance-founder-rejects-claims-of-involvement-in-aster-dex/