CZ-Linked $ASTER Debacle
- DeFi Protocol
The CZ/Aster debacle centers on Changpeng Zhao (CZ), the former Binance CEO, heavily promoting and investing in Aster DEX and its token $ASTER in late 2025, driving massive hype, a Binance spot listing, and a price surge to an all-time high around $2.40 in September. However, subsequent issues—including airdrop delays, wash trading allegations leading to a brief DefiLlama delisting, technical glitches, rumored large dumps (which CZ denied), and ongoing monthly token unlocks—triggered sharp crashes, accusations of pump-and-dump manipulation, and heavy retail losses as the token fell over 70% to trade around $0.71 to $0.74 by early January 2026.