Binance Founder CZ Denies $30M ASTER Token Sale Claims as “Fake News”

Binance CZ

Summary: Changpeng Zhao, the former CEO of Binance, has publicly refuted rumors suggesting he sold 35 million ASTER tokens for about $30.42 million. Claims originated from a Saudi crypto advocate and quickly garnered attention on social media. Zhao labeled these reports as "Fake News," and a blockchain analysis confirmed no such transactions occurred.

Key Takeaways

Changpeng Zhao denies selling 35 million ASTER tokens, calling the reports "Fake News."
The rumors began with a tweet from a crypto advocate who spread misinformation.
A blockchain review by EmberCN confirmed that no sales occurred, attributing the confusion to routine internal transactions at Binance.
Despite Zhao’s denial, the ASTER token has seen a significant price drop recently.

CZ Dismisses False Reports

Changpeng Zhao, known as CZ, swiftly refuted the rumors surrounding a massive ASTER token sale. He took to X to label the claims as "Fake News" and encouraged his over 10 million followers to "unfollow" those spreading such falsehoods. This prompt response aimed to quell concerns among investors and counter the misinformation impacting the crypto market.

Blockchain Analysis Confirms No Sale

Following Zhao’s denial, blockchain investigator EmberCN examined the situation and found no evidence supporting the alleged ASTER token sales tied to Zhao's accounts. The analyst pointed out that the supposed transactions were merely routine transfers among Binance's hot wallets rather than individual trades initiated by Zhao. A specific wallet, 0x889, had mistakenly been attributed to Zhao, leading to this misunderstanding. EmberCN clarified in a public post on X that "there are no corresponding on-chain transfers" indicating a sale and reaffirmed that the activities were entirely internal to Binance.

Market Impact on ASTER

Despite the quick denial from Zhao and confirmation from blockchain analysts, the ASTER token continued to experience downward market pressure. As of the latest reports, ASTER was trading at $0.9379, marking a decline of 8.81% in a 24-hour period, according to CoinMarketCap. The token, which is native to the decentralized exchange Aster, gained considerable attention after launching on September 17, 2025, at a token generation event price of $0.02. Following Zhao's endorsement, ASTER's value skyrocketed over 10,000%, hitting an all-time high of $2.42 on September 24, 2025. However, it has since dropped significantly, losing 61.31% of its peak value.

Disclaimer: The information in this article is intended for informational purposes only and should not be considered financial advice. The views expressed reflect the author's opinions and do not necessarily represent those of The Crypto Basic. Readers are encouraged to conduct their own research before making investment decisions. The Crypto Basic is not responsible for any financial losses.