Binance Founder Clarifies His Role in Perpetual DEX Aster
Changpeng Zhao, the founder of Binance, has clarified his involvement wiht the perpetual decentralized exchange (DEX) Aster.Community speculation had arisen about his role in the project.
CZ confirmed that he is not part of Asterās team but serves as an advisor with a small stake. His venture capital firm, YZi Labs, holds a minority share in the platform. This clarification came after an X user claimed that CZ said he was āpart of the Aster teamā during a Spaces session.
Despite the confusion, CZ emphasized that Aster competes with Binance but ultimately benefits BNB, Binanceās native token. This outlook highlights how competition can drive ecosystem growth.
The ASTER token has seen a massive surge since its launch, increasing over 7,000% and reaching an all-time high of $2.41 on September 24. This growth has attracted significant attention from both retail and institutional investors.
Several former Binance employees are now part of the Aster team,adding to the platformās credibility. CZās initial congratulatory post following the token launch helped boost market interest.
However, CZ has denied any allegations of market manipulation favoring Aster over competitors like Hyperliquid. The perpetual DEX space is experiencing rapid growth and increased competition.
Key points:
- CZ is an advisor to Aster, not a team member.
- Aster benefits BNB despite competing with Binance.
- ASTER token has surged over 7,000% since launch.
