Data from DeFi TVL aggregator DefiLlama reveals that Binance has witnessed significant outflows totaling $1.01 billion in the last 24 hours. That adds to a net outflow of $703 million over the past week.Despite these recent outflows, Binance still recorded net inflows of $1.68 billion in the past month, making it the leader among all centralized crypto exchanges tracked by DeFiLama.OKEx, on the other hand, has seen substantial gains as users migrate from Binance. The exchange experienced net inflows of $152 million in the past day, marking the highest among all centralized crypto exchanges monitored by DeFiLama.Additionally, following Binance’s settlement, more than $200 million in Crypto Futures Bets have been liquidated. CoinGlass data indicates that crypto perpetual futures positions worth $227 million were liquidated in the last 24 hours, with bullish longs comprising nearly 80% of the total. Bitcoin longs and shorts worth over $67 million were also wrecked, representing one of the most significant liquidation events in recent months.Ether (ETH) futures traders incurred losses of $27 million, while Solana’s SOL traders faced $10 million in liquidations. BNB, associated with the Binance ecosystem, experienced relatively lower liquidations at $6 million. Notably, traders at Binance accounted for $99 million in liquidations, the highest among counterparties, with OKEx following closely at $62 million.#RichardTeng #Blast #hodl #BTC #ETH

$BTC #Blast Bitcoin 🚨

Teng’s experience as a top employee who worked with government entities makes him a “highly qualified leader,” according to CZ.Richard Teng, the new CEO of the world’s largest cryptocurrency exchange, Binance, is no stranger to the world of finance. His ascent into the new position substantiates rumors that made the rounds earlier this year about him being the right fit for the job amid Binance’s regulatory woes.According to a company blog post, Teng joined the exchange in August 2021 as the CEO of Binance Singapore, with over three decades of experience in finance and the regulatory space.Facts About Binance’s New CEOBefore joining Binance, Teng was the chief executive of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), the chief regulatory officer of the Singapore Exchange, and director of corporate finance at the Monetary Authority of Singapore (MAS).The 52-year-old Singaporean worked at MAS for 13 years until 2007, before he took the role of the regulatory officer at the local stock exchange. While at the Singapore Stock Exchange, Teng headed a group that enforced rules in areas like trading, clearing, and listings in collaboration with MAS. After that, he spent six years at the ADGM.In May, Changpeng Zhao (CZ), Binance co-founder and former CEO, appointed Teng as the Head of Regional Markets, overseeing operations in all markets outside the U.S., including the Middle East, North Africa, and the European regions. Binance revealed that he led regional teams to secure strategic partnerships and expand the exchange’s reach.Currently, Teng serves as an international council member at the Global Fintech Institute and an advisory board member of the Blockchain Association Singapore. He has also become part of CZ’s inner circle and close confidants, along with Binance co-founder He Yi, per a June BNN Bloomberg report.A “Highly Qualified Leader”Teng’s experience as a top employee who worked with government entities makes him a “highly qualified leader,” according to CZ. The former Binance CEO believes Teng will navigate the exchange through its next phase of growth, transparency, and compliance. He will also play a vital role in helping the crypto behemoth resolve its regulatory issues.“It is an honor and with the deepest humility that I step into the role of Binance’s new CEO…To ensure a bright future, I intend to use everything I’ve learned over the past three decades of financial services and regulatory experience to guide our remarkable, innovative, and committed team,” Teng tweeted.#RichardTeng #Blast #ordinals #opbnb

A Blog PostThe recently launched financial platform Blast, notable for its high-yield promises and invitation-based early access, has garnered significant attention. Founder Tieshun Roquerre has addressed some of the criticisms raised about the platform. This blog post delves into Blast's business model, Roquerre's responses to the criticisms, and the reactions from investors.Blast's Claims and Responses to CriticismsBlast offers users a native Layer-2 yield rate of 4-5%, claiming these yields are sourced from legitimate platforms. In response to criticisms about the platform’s high yields and invitation rewards, Roquerre states that these features are intended to encourage community growth.Although Paradigm has "zero participation" in Blast's marketing strategy, it has contributed to research efforts. This highlights the significance of strategic partners in the platform's development.Supported by a $20 million funding from investors like Paradigm and Standard Crypto, Blast has sparked considerable interest with its invite-only early access.Community ReactionsSome investors have described Blast’s promised returns as "too good to be true," reflecting concerns about similarities to Ponzi schemes, often encountered in the crypto sector.Blast's yields and business model present a novel approach in the fintech world. However, like any innovative platform, caution is advised for users and investors. Roquerre's responses to the criticisms may help alleviate some concerns about the platform's transparency and sustainability. Still, the long-term success of Blast will depend on market dynamics and user reactions.#Blast #BinanceTournament #BinanceSquare