TLDR
- Binance co-founder Changpeng “CZ” Zhao bought over 2 million Aster tokens worth $2.5 million using personal funds on Binance
- The Aster token price jumped from $0.91 to $1.26 (over 30%) following CZ’s public disclosure on social media
- Trading volume increased from $224 million to over $2 billion in 24 hours after the announcement
- Two large traders opened short positions worth $52.8 million and $19.1 million betting the price will drop
- Aster is a decentralized exchange token that merged from older platforms in late 2024, with CZ’s family office YZi Labs as an early investor
Binance co-founder Changpeng “CZ” Zhao revealed on Sunday that he bought over 2 million Aster tokens worth approximately $2.5 million. He shared a screenshot of his wallet holdings on social media platform X.
Full disclosure. I just bought some Aster today, using my own money, on @Binance.
I am not a trader. I buy and hold. pic.twitter.com/wvmBwaXbKD
— CZ 🔶 BNB (@cz_binance) November 2, 2025
CZ stated he used his own money to purchase the tokens on Binance. He described himself as a long-term holder rather than a trader.
The announcement caused an immediate price reaction. Aster jumped from $0.91 to a peak of $1.26 according to CoinGecko data.
At the time of reporting, the token was trading at $1.22. This represented a gain of over 30% from the pre-announcement price.
The disclosure triggered a surge in market activity. Trading volume increased from $224 million to over $2 billion in the 24 hours following the post.
Aster’s market capitalization also grew during this period. It rose from $1.8 billion to more than $2.5 billion.
One trader posted on X that this was the first time CZ had announced buying a token outside of BNB. The trader opened a position in Aster following the announcement.
I opened a position in $ASTER
This is the only other alt coin CZ has ever announced that he bought publicly – the other being BNB.
CZ is putting his OWN money behind this. Don’t think for a second he hasn’t got more of a hand in it than a ‘personal investment’ idea pic.twitter.com/3u3DobGA7u
— Gold (@Gold_Cryptoz) November 2, 2025
Traders Respond With Short Positions
Not all market participants expect the rally to continue. Two large traders opened short positions betting the price will decline.
One whale built a short position of 42.97 million tokens valued at $52.8 million. The position has a liquidation price of $2 according to blockchain analytics platform Lookonchain.
A second trader increased their short to 15.3 million Aster tokens worth $19.1 million. This position would liquidate at $2.11.
After the price spike, CZ posted that he hoped to buy more at lower prices. He stated he doesn’t buy tokens often, mentioning only Aster and BNB from eight years ago.
Background on Aster and CZ Connection
Aster operates as a decentralized exchange protocol. The project launched through a merger between Astherus and APX Finance in late 2024.
The token has a maximum supply of 8 billion. More than half is allocated to community incentives including airdrops and strategic distribution.
The platform offers perpetual and spot trading across multiple blockchains. Features include hidden orders and high leverage options.
CZ’s family office YZi Labs invested in Aster’s predecessor Astherus last year. YZi Labs was formerly known as Binance Labs.
In September, CZ congratulated Aster on X and encouraged the developers to keep building. Questions remained about his direct involvement with the project.
A BNB Chain representative confirmed in September that Aster received support from both BNB Chain and YZi Labs. The representative did not disclose whether CZ was personally involved.
On-chain data shows Aster’s wallet accumulated large amounts of USDT. The wallet became one of the largest on BNB Chain outside of Binance itself according to analysts.
