CZ Alleged Token Dump? Aster CEO Slams “FUD” with a Side of Burned Tokens

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Key Highlights

  • ASTER token fell over 25% amid rumors of CZ-linked insider selling, which the CEO denied. Because nothing says “trust me” like a dramatic denial while your token plummets like a bad blind date.
  • Aster has repurchased 254M tokens, burned 78M, and launched Stage 6 buybacks using trading fees. Burning 78 million tokens because apparently, fire is the only thing hotter than the drama.
  • Despite the price drop, platform activity remains strong with $1.147B TVL and $141B monthly trading volume. Traders are either brave or desperate-or both.

Aster CEO Leonard Aster has defended the decentralized crypto exchange against claims that the project’s tokens were dumped by insiders, including Binance co-founder Changpeng Zhao (CZ). If you thought this was a courtroom drama, congrats-you’ve been memed.

In a detailed statement on X on Tuesday, Leonard said the rumors were “factually incorrect” and made “without any evidence.” He added that the exchange operates independently and follows transparent rules. Because nothing’s more transparent than a CEO yelling at a blockchain.

“These allegations are made without any evidence to deliberately sway public opinion with malicious intent,” he said. Classic FUD, folks. Nothing like a little fear, uncertainty, and doubt to spice up your Tuesday.

Addressing ongoing FUD

There are some allegations swirling around regarding Aster and the team that are simply factually incorrect. These accusations are made without any evidence to deliberately sway public opinion with malicious intent. I’m addressing these allegations not…

– Leonard 💛 Aster (@Leonard_Aster) February 3, 2026

Leonard also clarified that while CZ is an advisor and YZi Labs is an investor, “Aster is an independent project not controlled or directly operated by CZ or Binance entities.” Translation: “We’re family, but we’re not related. Just friends!”

What led to the controversy

The situation started when a post on X claimed that a wallet linked to CZ sold over $30 million worth of ASTER tokens, or roughly 34 million coins. The claim sparked panic selling, pushing ASTER down almost 10% in a short time and about 7% in 24 hours. 

4. Fake news!

Unfollow the guys posting fake news.

– CZ 🔶 BNB (@cz_binance) October 31, 2025

Zhao quickly denied the report, calling it fake news and urging followers to “unfollow the guys posting fake news.” CZ, ever the drama queen, labeled the report “fake news” and told followers to unfollow the rumor mill, which we all know is just code for “I don’t want to be held responsible for my own shadow.” Lookonchain later confirmed the transfer had nothing to do with CZ. Despite this clarity, the rumor intensified among investors who are already worried about the token’s price drop. Proof that FUD travels faster than a poorly coded smart contract.

Trading activity

At the time of writing, Aster is trading for $0.57, up 0.92% in the last 24 hours. However, the token is down 11% in a week. Trading activities have dropped by 16% to $151 million, while the market cap sits at $1.48 billion. It’s like the crypto version of “I’ll have what she’s having,” but nobody ordered the confidence.

The token has broken below the $0.80 support level, which has now turned into resistance. ASTER has been trading around $0.81 and $0.61 since December before climbing to $0.55, and it has not been able to rise above that level. It’s like a bad Tinder profile-promising, but ultimately a letdown.

While the token price has declined, activity on the Aster platform remains strong. According to data from DefiLlama, Aster’s total value locked has reached approximately $1.147 billion, with monthly fees climbing to $347 million. The exchange also recorded over $141 billion in monthly perpetual trading volume. This means traders are still engaging with the token despite the downturn. Either they’re masochists or they believe in the dream of a crypto utopia. Or both.

Leonard outlines buyback program

In the X post, Leonard highlighted the project’s token buyback program as proof of commitment. He said Aster has repurchased 254 million tokens and burned 78 million so far, with more burns planned soon. Because what’s a good PR crisis if you can’t turn it into a pyrotechnic spectacle?

Stage 6 buybacks are expected to begin on February 4, where up to 80% of daily platform fees will be used for token repurchases. Leonard said this stage will be the last trading airdrop and that future circulating supply growth will be slowed. He added that the remaining buyback tokens, totalling about 98 million, will be burned, and that the monthly 1% token unlock is paused until staking starts. Because nothing says “I care” like locking tokens up tighter than a vault.

Leonard also outlined upcoming developments, including staking for holders and a privacy-focused Layer-1 network expected by March, as Aster works to rebuild trust and stabilize sentiment. May the force of blockchain be with them.

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2026-02-03 20:41