Changpeng Zhao, Aster, and BNB Benefits: Untangling the Web

CZ addresses his advisory role in Aster, the rising DEX, and its unexpected benefits to the BNB ecosystem. Get the inside scoop on this complex relationship.

The crypto world is buzzing about the connection between Changpeng Zhao (CZ), the founder of Binance, the decentralized exchange (DEX) Aster, and the BNB ecosystem. Let's dive into CZ's role in Aster and how its success unexpectedly benefits BNB.

CZ's Advisory Role: Product, Tech, and No Legal Advice

CZ himself has addressed rumors surrounding his involvement with Aster, confirming that he provides advisory support focused on product and technology. He made it clear that he doesn't advise on regulatory issues, stating, "I only advise them on product and tech, and I do not advise them on regulatory issues. That’s not my scope, that’s not my specialty. I’m not a lawyer."

This distinction is crucial given CZ's past experiences with regulatory challenges. His focus remains on helping Aster grow from a technical and product perspective.

Aster's Rise and the BNB Connection

Launched on the BNB Chain in March, Aster has quickly gained traction, offering both perpetual and spot trading with its native ASTER token. This token plays a key role in governance, trading fee discounts, staking rewards, and deflationary buybacks, contributing to price stability. The exchange's airdrop, distributing a significant portion of its token supply, has further fueled market excitement.

CZ acknowledged that some of Aster’s team members are former Binance employees, and his venture capital firm, YZi Labs, holds a minority stake in Aster. Despite these connections, CZ emphasizes that Aster operates independently. As CZ tweeted on September 28, 2025 "Aster competes with @Binance, but helps #BNB."

ASTER's Market Dominance and Wintermute's Moves

ASTER has emerged as a dominant force in decentralized perpetuals trading. DefiLlama data shows ASTER has handled more than $42 billion in 24-hour perp volume, generating around $15 million in daily protocol fees, surpassing competitors like Hyperliquid and dYdX.

Interestingly, Wintermute, a major crypto market maker, has been moving ASTER tokens to exchanges like Bybit and Gate. These transfers, totaling over $4.8 million, have sparked some speculation, but the price of ASTER has remained relatively stable, trading around $1.95 (September 29, 2025).

The Unforeseen BNB Benefits

Despite competing directly with Binance, CZ maintains that Aster's success indirectly benefits BNB. While this might seem counterintuitive, the increased activity and attention brought to the BNB Chain by Aster's growth likely contribute to the overall health and vibrancy of the BNB ecosystem. This reinforces the idea that a rising tide lifts all boats.

Final Thoughts

The relationship between Changpeng Zhao, Aster, and BNB is complex and multifaceted. CZ's advisory role, Aster's rapid growth, and the subtle benefits to BNB create a fascinating dynamic in the DeFi landscape. It's a reminder that in the world of crypto, things aren't always as simple as they seem. So, keep an eye on Aster – it might just surprise you (and BNB) even more!