Former Binance CEO Changpeng Zhao (CZ) has denied reports alleging that 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. In a public post on X, EmberCN clarified that “there are no corresponding on-chain transfers” matching the alleged sale and confirmed the movements were internal Binance transactions.
**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.
https://thecryptobasic.com/2025/10/31/binance-founder-cz-refutes-30m-aster-token-sale-rumors-as-fake-news/