Key Insights:
- ASTER crypto gains $10 billion in value despite having a 96% supply in six wallets.
- Star Xu cites CFTC action as key risk for onchain perpetuals’ growth.
- MrBeast is accused of insider trading, earning $23 million from ASTER.
OKX founder Star Xu warns that regulation is now the biggest challenge for onchain perpetuals.
His comments comes amid Hyperliquid expansion and ASTER, now known as one of the most talked about tokens in 2025.
Retail traders, celebrity backing, and supply control are all shaping this new contest in crypto.
Star Xu Points to Regulatory Concerns
Star Xu, the founder of OKX Exchange, said Hyperliquid has shown that an onchain perpetual trading platform can grow with only a small team.
According to the update, he noted that more projects, such as ASTER, are now entering the same field.
Xu explained that OKX tested its own product in 2023 but decided not to launch it on mainnet. The exchange was concerned about how regulators would respond.
Xu recalled that the U.S. Commodity Futures Trading Commission took action against Deridex in 2023.
He said that the case marked a clear change in enforcement. Xu believes any new exchange offering similar services could face the same attention.
He warned that the industry will not move forward until rules are better defined. Hyperliquid’s rise is proof, according to Xu, that demand exists.
However, he stresses that future growth will depend less on technology and more on how authorities apply existing laws.
His warning comes at a time when many teams are weighing whether to release their own perpetual products.
ASTER Crypto Gains Momentum From Retail Hype
Market analyst Michaël van de Poppe also noted ASTER has become a sign that retail sentiment is returning.
He stated that hype is helping altcoins recover. He believes bigger rallies could follow if retail buyers return in force.
ASTER’s rise has sparked debate. Reports show that 96% of the supply is in the hands of six wallets.
Daily trading volume on its Bitcoin pair is about $500,000. The project’s market value is near $10 billion even with this. Critics pointed out that there is no working product to back the price.
One market participant, called “cyclop” calls ASTER the largest case of market manipulation he has seen.
He noted that because the token cannot be shorted, its backers can set the price without pushback.
He said this shows how control of supply, rather than actual use, drives many tokens higher.
According to him, most altcoins are not built to solve problems. Instead, their price is shaped by the people and the money that support them.
MrBeast Linked to Aster Crypto Trading Claims
Influencer MrBeast has also been tied to ASTER crypto rise. Data from Lookonchain shows he deposited 114,483 USDT into the project.
Reports claim he has made more than $23 million from insider trading and from promoting tokens before selling them.
According to these reports, his activity covers several crypto projects, not only ASTER.
As disclosed, MrBeast has more than 31 million followers. Analysts say his reach makes it easier to move prices once he shows support for a token.
Lookonchain claims he has used that reach to mislead investors while taking profit for himself.
The combination of a concentrated supply and celebrity backing has made ASTER one of the most discussed tokens in the market.
Some traders view it as an example of how influence, not utility, drives prices. Others see it as a warning that manipulation is still a risk in crypto.
Star Xu’s comments about regulation, the hype around ASTER, and the claims tied to MrBeast all point to the same concern.
Onchain trading is growing, but the way it grows may depend less on innovation and more on the balance between regulation, control, and public trust.
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey’s articles has been featured on Cryptonews and Coingape, among others.
