The introduction of U.S. legislation favorable to the cryptocurrency sector appears to be placing decentralized finance at the center of a new and unexpected competition. Who are these lobbyists from the group “Investors for Transparency” who are trying to kill DeFi?
A group called “Investors for Transparency” is campaigning against DeFi
Historically speaking, the operating model applied to decentralized finance (DeFi) has been based on openness and strong community foundations. This balance could very well be disrupted in the coming years with the anticipated massive influx of institutional and stock market giants into the crypto space.
Just look at how long-standing Ethereum players like Consensys are preparing to go public, while DeFi’s flagship protocol, Aave, is seeing its DAO and its official company, Avara, at odds over brand ownership and the collection of certain associated fees.
This shake-up does not seem to sit well with a group of American lobbyists behind a public awareness campaign whose message is unequivocal: “Tell your senator to pass cryptocurrency legislation that excludes provisions regarding DeFi.”
‘Investors for Transparency’ poster campaign against DeFi
It’s impossible to know who is really behind this group, called “Investors for Transparency,” whose poster campaign was highlighted on X by crypto journalist Eleanor Terrett. This prompted a reaction from the founder of the Uniswap (UNI) protocol, Hayden Adams, who described it as an attempt to “kill DeFi.”
A group called “Investors for Transparency” is conducting public advertising campaigns and lobbying efforts to kill DeFi, the world’s most transparent financial system. Ironically—but not surprisingly—their website does not reveal who is funding them. This warrants a thorough investigation by the crypto industry, similar to the Prometheum case.
Hayden Adams
Could this be the work of Citadel Securities?
This affair certainly raises the specter of Citadel Securities (even though there is no evidence to suggest they are behind this ad campaign), the largest market maker on the New York Stock Exchange, which has apparently been determined to enter the cryptocurrency sector since February 2025 and was among the investors in the latest record-breaking fundraising round ($500 million) led by Ripple (XRP) at the end of the year.
This stance is accompanied by a full-scale psychological war waged against DeFi protocols, using repeated letters sent to the Securities and Exchange Commission (SEC) to demand stricter regulation of their activities, particularly regarding the market for tokenized securities.
In response to these attacks, certain DeFi players—such as the DeFi Education Fund, a16z, Digital Chamber, Orca Creative, and the Uniswap Foundation—are attempting to counter with letters of their own to refute arguments deemed “baseless” when it comes to “thoughtfully designed on-chain markets.”
Ultimately, the situation seems fairly straightforward, according to DeFi Education Fund spokesperson Jennifer Rosenthal. Citadel Securities is attempting “to cast doubt on the existence of a technology that threatens its business and a significant portion of its market.”
