The introduction of US legislation favorable to the cryptocurrency sector seems to be placing decentralized finance at the center of unexpected new competition. Who are these lobbyists from the “Investors for Transparency” group 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) is based on openness and strong community foundations. This balance could well be shaken in the coming years with the announced massive arrival of institutional and stock market giants in the crypto equation.
Just look at how long-standing Ethereum players such as Consensys are preparing to go public, while DeFi’s flagship protocol, Aave, is seeing its DAO and official company, Avara, tear each other apart over ownership of its brand and the capture of certain associated fees.
This reshuffling of the deck does not seem to be to the liking of a group of American lobbyists who have launched a communication campaign with an unequivocal message: “Tell your senator to pass cryptocurrency legislation without provisions concerning DeFi.”
It is impossible to know who is really behind this group, called “Investors for Transparency,” whose poster campaign was highlighted on the X network by crypto journalist Eleanor Terrett. This prompted a reaction from the founder of the Uniswap (UNI) protocol, Hayden Adams, who sees it as an attempt to “kill DeFi.”
A group called “Investors for Transparency” is running public advertising campaigns and lobbying to kill DeFi, the most transparent financial system in the world. Ironically, but unsurprisingly, 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
Can we see Citadel Securities’ fingerprints on this?
This case inevitably raises the specter of Citadel Securities (although there is no evidence to suggest that they are behind this poster campaign), the largest market maker on the New York Stock Exchange, which has clearly been determined to enter the cryptocurrency sector since February 2025 and was among the investors in the latest record fundraising ($500 million) led by Ripple (XRP) at the end of the year.
This stance is accompanied by a veritable psychological war waged against DeFi protocols, with repeated letters sent to the Securities and Exchange Commission (SEC) calling for stricter regulation of their activities, particularly with regard to the tokenized securities market.
Faced with these attacks, some DeFi players—such as DeFi Education Fund, a16z, Digital Chamber, Orca Creative, and the Uniswap Foundation—are attempting to fight back with letters rejecting arguments deemed “baseless” when it comes to “thoughtfully designed on-chain markets.”
Ultimately, the situation appears to be quite simple, according to DeFi Education Fund spokesperson Jennifer Rosenthal. Citadel Securities is attempting “to challenge the existence of a technology that threatens its business and a significant portion of its market.”
