CZ clarifies: Genius is not a competitor of Aster, but rather a trading terminal for the Perp DEX platform.
TL;DR
CZ clarifies that Genius is a trading terminal for Perp DEX, not a competitor to Aster. YZi Labs invested tens of millions in Genius, with CZ as an advisor, but token issuance details remain undisclosed.
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On January 14, Binance founder CZ commented on a social media post regarding the "competitive relationship between Genius Trading, CZ's new advisory project, and Aster," stating, "Genius is a trading terminal connecting to the perpetual contract decentralized exchange (Perp DEX), and is not a competitor of Aster."
BlockBeats reported yesterday that YZi Labs has made a "tens of millions of dollars (multi-8-figure)" investment in Genius Trading, and CZ will also join the project as an advisor. Genius co-founder and CEO Armaan Kalsi revealed that YZi Labs' investment occurred last month and is significantly higher than $10 million. He declined to disclose the specific size and investment structure (equity, tokens, or a hybrid form), and did not respond to whether Genius plans to issue its own token.