BREAKDOWN: Is Twitter Getting Serious About Decentralized Social Media?

Big Corporate is taking steps to implement decentralized technologies.

This episode is sponsored by NYDIG.

On this episode of “The Breakdown:”

  • Corporate dips into decentralized media, starting with Twitter and TikTok
  • Regulatory difficulties continue for Binance
  • Crypto on the minds of Congress and the SEC

Big corporations have been seeing crypto not just as a hype machine, but as a technological update opportunity. Twitter, for example, has found a new lead for its decentralized social media group Bluesky. TikTok has similarly dipped into decentralized media as it struck a deal with decentralized music app Audius. Which platforms will take on crypto next?

Binance continues to come under regulatory scrutiny with the Netherlands as the latest country to issue a warning to the company. Even after CEO Brian Brooks left the company citing “differences in strategic direction,” Binance founder Changpeng “CZ” Zhao claims to continue to search for regulatory-minded people to join the company’s ranks.

Regulatory focus continues in the U.S. as well, with members of the Securities and Exchange Commission, Commodity Futures Trading Commission and Congress hosting opposing opinions on how to regulate crypto. The disagreements continued this week, including a statement from the Fed’s Neel Kashkari bashing crypto and a letter from two congressmen requesting clarity from the SEC and CFTC. Will U.S. authorities ultimately come to an agreement on the best path forward?

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“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Cole Burston/Bloomberg/Getty Images, modified by CoinDesk.

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