Recent dialogue between MakerDAO developers and the office of anti-crypto Senator Elizabeth Warren\u2019s has revealed a concerning lack of familiarity with the current decentralized finance (DeFi) ecosystem.<\/p>\n
On Sept. 20, a screenshot began circulating on social media appearing to show dialogue between members of the MakerDAO community discussing the conclusions from a recent meeting between representatives of the project and the office of Senator Warren.<\/p>\n
In the screenshot, pseudonymous MakerDAO Governance delegate \u201cPaperImperium\u201d claims to have spent much of the time convincing Warren that Maker is not the same project as The DAO \u2014 an infamous early experiment in decentralized autonomy organizations (DAOs) that suffered a major hack before failing in 2016.<\/p>\n
MakerDAO is currently sixth-largest DeFi protocol commanding a total value locked of more than $8.2 billion, according to DeFi Llama.<\/p>\n
Despite the confusion, the delegate also concluded that the Senator is \u201cnot super interested in us,\u201d adding that they \u201chave a commitment for another meeting\u201d that is expected to take place within roughly three weeks.<\/p>\n
While the screenshots shared to social media claim appear to be citing Senator Warren directly, a Sept. 17 thread posted to MakerDAO\u2019s governance forum indicates the project\u2019s delegates would be meeting with Warren’s \u201ceconomic and banking advisors.\u201d<\/p>\n
The meeting comes after increasing efforts from MakerDAO to promote initiatives establishing dialogue between the crypto industry and lawmakers.<\/p>\n
Elizabeth Warren has recently become a pariah to the crypto industry, labeling crypto as “the new shadow bank” and a “lousy investment” in recent months.<\/p>\n
Earlier this month she suggested it would be \u201cworth considering\u201d prohibiting U.S. banks from holding the reserves to back private stablecoins in a move that could \u201ceffectively end the surging market.\u201d<\/p>\n