CZ's Shadow Looms Over Aster's Meteoric Rise Despite Official Denials

YZi Labs, the venture firm co-founded by Binance ex-CEO Changpeng Zhao (CZ), holds a minority stake in decentralized derivatives exchange Aster, while CZ has explicitly denied any official role for Binance in the project. During a September 27, 2025, Twitter Spaces session, CZ clarified that neither he nor Binance backs Aster, though he acknowledged that YZi Labs’ investment does not constitute full project ownership. The confusion, he noted, stems from the presence of several former Binance employees within Aster’s team, a detail that has fueled speculation about deeper ties to the Binance founder.

Aster, which rebranded from ApolloX in late 2024, has garnered attention for its rapid growth. The platform, built on the BNB Chain, reported $46.9 billion in 24-hour trading volume and a $3.4 billion market cap. Its native token, ASTER, surged 2,227% last week, peaking at $2.40 before consolidating around $1.98 amid broader market corrections. Analysts note the token’s price trajectory aligns with pre-market predictions, with critical support levels currently between $2 and $2.20.

YZi Labs’ involvement in Aster is part of a broader strategy to incubate market leaders in key crypto narratives, including decentralized derivatives and AI-powered DeFi. A 2024–2025 portfolio analysis reveals that 65% of YZi Labs’ funding rounds are solo or lead investments, with Aster serving as a case study in its “early-stage betting” approach. The firm’s focus on narratives such as real-world assets (RWAs), AI agents, and modular infrastructure underscores its role as a catalyst for innovation within the BNB Chain ecosystem.

Despite CZ’s disclaimers, Aster’s association with YZi Labs and Binance’s ecosystem has amplified investor interest. The platform’s wallet holds $131 million in USDT, trailing only Binance’s $236 million in the same asset. CZ’s public acknowledgment of Aster’s “strong start” during its token generation event (TGE) further bolstered market confidence, though he emphasized that YZi Labs’ stake remains minority.

The project’s growth has also sparked comparisons to competitors like Hyperliquid, which reported $12.8 billion in 24-hour trading volume during the same period. While Aster faces stiff competition, its multi-chain architecture and features such as hidden orders and 1001x leverage position it as a direct challenger to centralized exchanges. YZi Labs’ track record in backing projects like Hooked and Space ID, which achieved Binance listings post-TGE, adds further credibility to Aster’s potential for rapid adoption.

Source: [1] CZ Clarifies Binance Has No Official Role in Aster DEX’s Rapid Growth (https://cryptonews.net/news/altcoins/31700800/)

[2] ASTER Token Skyrockets 9,900% Post-CZ Endorsement (https://thecryptobasic.com/2025/09/22/aster-token-skyrockets-9900-post-cz-endorsement/)

[9] YZi Labs Investment Insights 2024–2025 (https://cryptorank.io/insights/analytics/yzi-labs-investement-insights-2025)

[10] Top 5 Pre-TGE Projects Backed by YZi Labs (Binance Labs) (https://nftevening.com/top-5-pre-tge-projects-backed-by-yzi-labs-binance-labs/)

[11] What is Aster? Everything You Should Know About 2025’s Hottest Crypto (https://blocknews.com/what-is-aster-everything-you-should-know-about-2025s-hottest-crypto/)