- Aster’s team includes former Binance employees and YZi Labs’ stake.
- CZ serves as an advisor.
- Speculation over Binance’s indirect influence increases.
Changpeng Zhao acts solely as an advisor for Aster, which includes several former Binance employees. His venture firm, YZi Labs, has a minority stake, but neither Zhao nor Binance officially support Aster financially.
Recent confirmations highlight Aster’s connection to Binance, influencing market expectations and potential future collaborations.
Aster, a perpetual futures decentralized exchange, has gained attention with confirmations from Changpeng Zhao about the involvement of former Binance employees. YZi Labs’ minority stake adds another layer to the emerging narrative.
Changpeng Zhao, Binance’s founder, clarified his advisory role and noted no personal investments in Aster. Binance itself is not officially involved, though the connection to Zhao has spurred speculation.
“I don’t have personal investments in Aster, and Binance as a company is not involved.” — Changpeng Zhao (CZ), Founder, Binance, source
The revelation of former Binance employees on Aster’s team has intensified industry speculation regarding possible collaborations. Market responses have been swift, with Aster’s trading volume experiencing significant fluctuations.
Financial implications include potential shifts in Aster’s market position and increased investor interest, driven by associations with Binance. The cryptocurrency saw a surge to over $2.44, with market capitalization rising above $3 billion.
Historical trends suggest that connections to major exchanges often lead to increased activity. Zhao’s advisory role could influence Aster’s strategies and regulatory standing, as has been seen with entities like dYdX in the past.
About the author
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