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Social media giant Twitter has officially formed a new crypto team. Interchain Foundation and Mina Foundation committee member Tess Rinearson has joined Twitter to lead the newly formed team. Tess Rinearson tweeted that the new team will “focus on cryptography, blockchain and other decentralized technologies, including and beyond cryptocurrencies”. Tess Rinearson also says the team will first explore how to support creators using decentralized apps to manage virtual goods and currency to support creators’ work and communities. The team will also work closely with Bluesky to explore the future direction of decentralized social media and ensure that Twitter remains at the forefront of the space.
In the article DeFi Risks, Regulations and Opportunities in the International Journal of Blockchain Law, Caroline Crenshaw, commissioner of the SEC, highlighted the benefits of decentralized finance (DeFi) while warning of the dangers of failing to adopt protective regulatory frameworks. Crenshaw said the DeFi community must address issues of transparency and anonymity while complying with SEC rules. BTC price has not recovered the $66,000 pressure level and the short term downtrend remains unchanged.