Binance founder Changpeng “CZ” Zhao has explained his role in Aster DEX following the 2,000% rally of the DEX’s native token. This also follows his earlier endorsements of the decentralized exchange, which has provided increased competition to the likes of Hyperliquid. 

Binance Founder CZ Explains Role In Aster DEX

CZ mentioned in an X space that he serves as an advisor for the Aster DEX, advising them explicitly on product and technology, but not on regulatory issues. He also revealed that some former Binance employees are now working for the DEX. The Binance founder opined that Aster is a very strong project. 

Meanwhile, CZ also noted how the Aster DEX has stayed close to the BNB Chain ecosystem, which he admitted has helped BNB. Notably, the BNB price rallied to new highs amid the decentralized exchange’s emergence in the spotlight over the past few weeks. CZ mentioned that Aster did exceptionally well in their token generation event (TGE).

During the X space, CZ discussed how he is focusing more attention on the BNB chain and projects like the Aster DEX, as he is no longer in charge of Binance following the agreement with U.S. authorities, which required him to step down as CEO as part of the settlement. Meanwhile, it is worth mentioning that CZ’s family office, YZi Labs, has a minority stake in Aster. 

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Author: Scott Matherson