Key Notes
- The allegation originated from X user @FarzadXBT, a KOL with 140,000 followers, on Oct.30.
- Analyst @EmberCN reported the accuser mistook Binance’s hot wallet (0x889) for a personal wallet belonging to Zhao.
- Zhao publicly accused the KOL of spreading “FUD” for “click baiting” or attempting to manipulate the price to “buy low”.
Binance founder Changpeng “CZ” Zhao has publicly refuted allegations that he sold 35 million ASTER tokens. Zhao dismissed the claims, which circulated on the social media platform X, as fabricated screenshots and misinformation.
It’s crazy that a KOL with 140k following will photoshop fake images and post it publicly. Just click baiting, fud, or trying to buy low himself?
These people/liars don’t care about their own reputation. They will likely be poor.
The blockchain is a permanent public record. https://t.co/YMFwNt3SuC
— CZ 🔶 BNB (@cz_binance) October 31, 2025
On-chain analysts quickly investigated the claim and supported Zhao’s denial. @EmberCN, an analyst quoted by Zhao, reported that after checking on-chain data, they found no transfers corresponding to the allegation.
The analyst concluded the three transactions in question were movements between internal Binance hot wallets, specifying the accuser had either misidentified the Binance hot wallet 0x889 as belonging to CZ or had fabricated the evidence. This was corroborated by other on-chain commentators, including Lookonchain, which affirmed the transfer was unrelated to CZ.
这里说 CZ 出售了 3500 万枚 $ASTER ，不过我看了下链上数据，并没有他提到的对应链上转移。
对应到他提到的这三笔 $ASTER 转移，实际是币安热钱包之间的互转。有人把 0x889 这个币安热钱包 P 成了 CZ 的钱包。https://t.co/IoGcVqpMOr
这里把数量设置 1000 万枚以上，就可以看到。本文由… https://t.co/zROC2PRKAk pic.twitter.com/T6qvhw4iJg
— 余烬 (@EmberCN) October 31, 2025
The Disputed Claim
The rumor began on Oct. 30 when X user @FarzadXBT, a KOL with 140,700 followers, alleged that a wallet linked to CZ had sold 35,000,000 ASTER, valued at $30.42 million. The post, which claimed its source was “Arkham Intel / Aster Token,” included screenshots that were later disputed by analysts.
JUST IN: CZ Linked Wallet sells 35,000,000 $ASTER worth $30.42 million. pic.twitter.com/6rqiOWHCFJ
— Farzad 🇸🇦 (@FarzadXBT) October 30, 2025
In his Oct. 31 response, Zhao alleged the user’s motive was either to generate engagement, spread fear and doubt (FUD), or attempt to purchase the token at a lower price. He added that such individuals show disregard for their reputation and noted that the blockchain provides an unchangeable public history.
Market Context and Fallout
The token at the center of the drana, ASTER, has been getting attention ever since its release earlier this year in September. The Hyperliquid competitor recently saw a 15% price rally on Oct. 23 following the launch of its Rocket Launch program.
Social media commentary largely supported Zhao, with users criticizing the original poster for damaging their credibility in exchange for engagement. This event brings new attention to Zhao following recent news regarding CZ’s presidential pardon. The incident also occurs as the exchange’s US arm moves forward with the Binance.US listing of WLFI and USD1.
next
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
Zoran Spirkovski on X
Source: https://www.coinspeaker.com/cz-denies-30m-aster-sale-fake-images/