Users are actively discussing the potential connection between Binance founder Changpeng Zhao (CZ) and the decentralized exchange Aster. This speculation was sparked by his post on X, where he congratulated the platform on launching its token.
Well done! 👏 Good start. Keep building! pic.twitter.com/oMfOxfsBRS
— CZ 🔶 BNB (@cz_binance) September 17, 2025
Some community members have speculated that CZ initiated the creation of a DEX within the BNB Chain ecosystem in response to the success of another popular platform, Hyperliquid.
> be CZ
> watch Hyperliquid win last 12 mo
> sidelined
> realize entire biz is at risk> jeremy allaire says circle is buying hype
> its getting too late
> launch a competitor on your own chain
> call it Aster
> launch a token
> pump the brakes off it on day one
> celebrate>… https://t.co/UCVASCxMKr pic.twitter.com/YO5yh68w6P
— Andy (@ayyyeandy) September 18, 2025
A user under the pseudonym Tulip King agreed with the opinion that Zhao is “irritated by Hyperliquid’s performance.”
“And Aster also launched with the stablecoin USDF — it’s literally Ethena with a yield of about 12%,” he noted.
Ethena is supported by the venture arm YZi Labs, where CZ plays a key role. He interacts with project founders, offers mentorship services, and provides training.
On September 19, the firm announced an increased stake in Ethena.
Tulip King also pointed out the removal of the “ex” prefix from the Binance founder’s profile. According to the user, Zhao is “back at the helm.”
Despite the rumors, CZ is prohibited from holding executive positions in the company due to a lifetime ban imposed by U.S. authorities as part of a 2024 settlement.
However, there are confirmations of Aster’s connection with Binance. At the end of 2024, the exchange also received funding from YZi Labs.
In a comment to Cointelegraph, a BNB Chain representative stated that Aster is indeed supported by the ecosystem. The platform works with project mentors and has access to its technical resources. However, the spokesperson did not confirm Zhao’s direct involvement.
Competition
Aster has surpassed Hyperliquid in TVL: $674 million versus $671 million.
However, Hyperliquid leads in other metrics. For instance, in the last 24 hours, trading volume on this platform reached $814 million, while Aster’s was $429 million. Daily fees on the former exceeded $2.6 million, compared to $451,850 on the latter.
The market capitalization of the ASTER token has meanwhile reached $1 billion. At the time of writing, the asset is trading at $0.66, showing a 3.7% increase over the day.
The price of HYPE stands at $57, with a market capitalization of $15.2 billion. On September 18, the coin reached a new all-time high of around $60.
Previously, the Web3 wallet MetaMask announced the launch of futures trading via Hyperliquid.
As reported, blockchain researcher MLM noted an expansion of Circle’s integration with this decentralized exchange.