Binance Founder CZ Refutes $30M ASTER Token Sale Rumors as “Fake News”

Former Binance CEO Changpeng Zhao (CZ) has denied reports alleging he sold a massive quantity of ASTER tokens

The rumors originated from a Riyadh-based crypto advocate known as Farzad, who claimed Zhao had liquidated 35 million ASTER tokens worth approximately $30.42 million.

The post rapidly circulated on X and other crypto forums, igniting speculation among traders. Given Zhao’s reputation and market influence, the allegation drew immediate attention.

Blockchain Analysis Confirms No Sale Took Place

Blockchain investigator EmberCN later validated Zhao’s denial through a detailed on-chain review. The analyst found no evidence of ASTER token sales linked to Zhao’s accounts.

EmberCN explained that the supposed transactions were routine transfers between Binance hot wallets, not personal trades by Zhao. One wallet address, 0x889, had been incorrectly identified as Zhao’s, which led to the misunderstanding.

ASTER Faces Market Pressure Despite Clarification

Although the rumor was refuted quickly, the ASTER token continued to face downward pressure. As of press time, ASTER traded at $0.9379, down 8.81% in the past 24 hours, according to CoinMarketCap.

Notably, ASTER, the native token of decentralized exchange Aster, has drawn significant attention since its launch on September 17, 2025. It debuted at a token generation event (TGE) price of $0.02.

Following Zhao’s public endorsement, the token’s value surged over 10,000%, reaching an all-time high of $2.42 on September 24, 2025. However, the token has since declined 61.31% from that peak.