- CZ denied claims that he sold 35 million ASTER tokens, calling the reports fake and misleading.
- On-chain analysts confirmed the alleged sales were just transfers between Binance’s internal wallets.
- The viral post was accused of spreading FUD and trying to manipulate ASTER’s market sentiment.
A viral post on X claimed that Binance founder Changpeng “CZ” Zhao secretly sold 35 million ASTER tokens worth over $30 million. The accusation, shared by crypto influencer @FarzadXBT, quickly spread across social media — but it didn’t take long before on-chain analysts stepped in to clear things up.
On-Chain Data Tells a Different Story
Analyst @EmberCN reviewed the alleged transactions and found no sale at all. Instead, the supposed “dump” turned out to be internal Binance hot wallet movements between addresses, specifically one misidentified as CZ’s personal wallet. Other analysts, including Lookonchain, confirmed the same findings, calling the screenshots “fake” and the evidence “fabricated.”
CZ Fires Back
CZ wasn’t amused. In an October 31 response, he called out the post as deliberate FUD — claiming it was either an attempt to manipulate ASTER’s price or a cheap engagement stunt. “The blockchain doesn’t lie,” he reminded followers, adding that such false claims only hurt the credibility of those spreading them.
ASTER and Market Reactions
The ASTER token, which has been trending since its September debut, barely flinched amid the drama. After a brief dip, sentiment swung back in Zhao’s favor as traders criticized the KOL for misleading followers. With Binance.US preparing new listings and CZ recently securing a presidential pardon, the timing of this false claim only added more heat to an already eventful week for the exchange.
