Binance's New CEO Unveils Growth Plans; Bankless Founders Mull DAO Separation; Inferno Drainer to Shut Down
Summary:
Newly appointed Binance CEO, Richard Teng, unveils his strategic plan to drive growth and adoption of Web3. Simultaneously, Bankless co-founders intend to separate their brand from BanklessDAO in response to community criticism over a grant application from Arbitrum. In other news, crypto wallet phishing tool Inferno Drainer announces its shutdown after scammers used it to steal nearly $70 million in crypto funds in 2023.
In a recent blog post, Richard Teng, the newly appointed CEO of Binance, outlined his strategic plans for the future of the renowned crypto platform. Meanwhile, the founders of Blockchain news outlet, Bankless, are considering dissociating their brand from BanklessDAO, following launch two years ago. Furthermore, Inferno Drainer, notorious for its crypto wallet phishing operations, claimed its imminent closure.
Teng, who stepped into the CEO role on November 21 after predecessor Changpeng Zhao agreed to quit amidst a U.S. regulatory settlement, detailed his blueprint for the crypto platform. Teng's blog post on November 27 indicated his determination to propel growth and adoption of Web3 and reassured Binance users of more updates from him in the near future.
He said, "I look forward to diving fully into my new role, sharing more of my ideas through this medium, my social media - Twitter, LinkedIn - as well as global industry events and conferences." He had reassured customers over social media platform X (previously known as Twitter) about the robust state of Binance's business fundamentals.
David Hoffman and Ryan Sean Adams, co-founders of Bankless, are planning to submit a governance proposal to BanklessDAO for a potential separation of the two entities. This decision came in the wake of ongoing debates around Bankless and BanklessDAO, as well as accusations of an unfair grant request from Arbitrum by BanklessDAO. The co-founders also pledged to disown all of their BanklessDAO (BANK) tokens in support of their proposal. The community members of BanklessDAO had criticized the request of 1.82 million Arbitrum (ARB) tokens (approx. $1.8 million) in lieu of content writing without preciseness about its usage. BanklessDAO has since revised the proposal, reducing the one-year grant to three months with set key performance targets and milestones.
Crypto wallet phishing tool Inferno Drainer announced its discontinuation after phishing scammers illicitly accumulated approximately $70 million in cryptocurrency funds using the tool in 2023. The team professed in a Telegram post on November 26 that they'll let users smoothly transition to other similar services, as the necessary files and infrastructure will be preserved. The Inferno Drainer gained notoriety after the shutdown of Monkey Drainer and took a 20% fee of whatever users stole using their software.
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Published At
11/27/2023 9:06:43 PM
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