CZ confirms ex-Binance staff built Aster DEX, clarifies advisory role, while YZi Labs holds stake as ASTER token surges.
Speculation over Binance founder Changpeng Zhao’s role in perpetual decentralized exchange Aster has ignited fresh attention across the crypto sector. Zhao, or CZ, was quick to clarify the issue this week, stating he is not a member of the team but just an advisor to the project. His comments were in response to the accusation by a user of the X space station of having described himself as part of the Aster initiative in a Spaces session.
CZ Denies Team Role, Limits Work to Product and Tech
Doing so directly, Zhao attested that his advisory role is limited to product and technology support. He emphasized that he does not get involved with regulatory or compliance issues as those issues are outside of his domain of expertise. Mentioning previous problems in regulation, in an attempt to disarm, he said that he is not a lawyer. His statement had the clear purpose of dispelling the suspicions of the nature of his contact with Aster.
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At the same time, Zhao admitted that the Aster team has a number of former Binance employees. He condensed them as talented professionals that have remained closely associated with the BNB Chain ecosystem. Their expertise, he said, reinforces Aster’s technical core while maintaining connections to Binance’s blockchain environment. Although Aster competes with Binance, Zhao noted that its existence indirectly benefits BNB, a token he has always supported.
YZi Labs Confirms Minority Stake as Aster Token Hits ATH
Zhao went on to establish a financial link between Aster and his venture capital firm, YZi Labs. Through his private fund, which manages over $10 billion on behalf of him and other early Binance executives, Aster has a minority stake in Aster. Despite the investment, Zhao stressed that Aster is an independent project without any control by Binance or himself. Rubinstein called it a “very strong project” with its own agent for advancement.
The decentralized exchange has recently been in the limelight in the market. Its native currency, ASTER, made an all-time high three days ago, a sign of increasing demand and interest from the community. Traders see the milestone as a sign of Aster’s popularity in the ever-changing landscape of perpetual trading platforms. But to Zhao, the accomplishment is more than token performance. He said that such development is a positive addition to the overall BNB ecosystem, further strengthening the connection between former Binance talents and the current innovation.
Binance Former Employee Boosts Ecosystem Despite Competition
The rise of Aster signals that Binance alumni are still contributing to the development of blockchain even outside of the exchange itself. They appear in new ventures and it leads to possibilities for cross-ecosystem collaboration while at the same time to increased competition. Zhao’s comments reflect how, despite being competitors, robust decentralized projects can create indirect benefits for BNB in areas of liquidity, adoption, and ecosystem synergy.
This initiative also reflects a broader trend in the industry. As DEXes grow, they add new layers of resiliency to crypto markets. Such resiliency has the potential to reduce concentration, fragmentation, or event risk in case of liquidation stress. By supporting a wide variety of platforms, the ecosystem becomes more resilient to systemic shocks. Such a recognition of Aster’s success by Zhao underscores the vibrant competition and the industry’s enduring advantages.
