Binance founder Changpeng Zhao (CZ) stunned the crypto world over the weekend with a surprise personal investment in the Aster token, triggering a sharp market rally.
Key Takeaways
- CZ revealed he bought over 2 million Aster tokens using his own funds, sparking a 35% price surge within hours.
- The announcement was made via X (formerly Twitter), sending trading volumes skyrocketing across crypto exchanges.
- Aster is backed by YZi Labs, a family office run by Zhao, further linking the protocol’s success to his reputation.
- The move reignited attention on Aster’s fundamentals amid questions around its self-reported trading volume.
What Happened?
Changpeng Zhao publicly disclosed that he purchased 2,090,598.14 Aster (ASTER) tokens, worth approximately $2 million, at an average price of $0.91. The unexpected reveal was not part of any corporate strategy but a personal decision, as he stated, “I bought some ASTER on Binance today with my own money. I’m not a trader; I bought it and I’ll hold it.”
Full disclosure. I just bought some Aster today, using my own money, on @Binance.
— CZ 🔶 BNB (@cz_binance) November 2, 2025
I am not a trader. I buy and hold. pic.twitter.com/wvmBwaXbKD
CZ’s Bet Triggers Market Frenzy
Zhao’s post lit up crypto social media. Within an hour, the ASTER token surged over 35%, briefly hitting $1.20, after starting the day around $0.91. The post also spurred a wave of buying across Binance and other platforms, as screenshots and wallet trackers confirmed the transaction.
This is one of the rare instances Zhao has made an on-chain purchase public. Analyst AB Kuai Dong noted how unusual it is for CZ to disclose token buys, calling it a signal of strong conviction. Zhao even likened the move to his early investment in BNB, Binance’s native token, which he has held since inception with minimal sales.
His humorous remark, “I actually wanted to buy more when the price was low,” added fuel to the buzz, underlining how reactive crypto markets remain to his words.
Aster’s Fundamentals in Focus
Aster’s rally was also backed by structural updates to its tokenomics just days prior. On October 31, Aster announced changes to its S3 buyback and airdrop model. Under the new plan:
- 50% of all buybacks from S2 and S3 will be burned, reducing overall token supply.
- The remaining 50% will go to a locked airdrop address, limiting circulating tokens and rewarding long-term holders.
These changes were designed to enhance long-term price stability, although the timing of CZ’s announcement overshadowed the development.
Additionally, Aster recently surpassed Hyperliquid in trade volume, reporting over $70 billion in trades over the past week. However, these figures have faced scrutiny. The DefiLlama team briefly delisted Aster’s self-reported perpetual volume, citing verification concerns, though the data was later relisted.
The Zhao Effect on Crypto Markets
Zhao’s pardon from U.S. authorities adds another layer of complexity. After serving a short prison term for violating U.S. banking laws, he was reportedly pardoned by President Donald Trump on October 23. The White House called it the end of a “war on cryptocurrency” waged by the previous administration.
The news of the pardon had already given ASTER and BNB a price boost before his investment announcement. Aster had jumped to $1.07 and BNB rallied over 5% to $1,123 following the pardon.
This latest move shows Zhao remains a powerful force in crypto, even after stepping down from Binance leadership. His endorsement acts as a massive signal for both retail and institutional investors.
CoinLaw’s Takeaway
I’ve seen how fast crypto markets can move on sentiment, but this Aster rally reminded me just how much one figure can still shape the narrative. CZ’s transparency in revealing his personal investment is rare and powerful. In my experience, when someone of his caliber puts real money into a project and says, “I hold what I believe in,” that speaks louder than any whitepaper or roadmap. But it’s also a reminder to stay cautious. Hype is contagious, and while CZ’s involvement may boost confidence, it does not eliminate risk.
