America

DeFi

Davinci Jeremie

An anti-decentralized finance group is reportedly running advertisements on Fox News encouraging the public to pressure their senators into passing crypto market structure legislation that excludes DeFi provisions perceived to be threatening to the banking industry.
<a href="https://x.com/EleanorTerrett/status/2009795675635306737" rel="noopener noreferrer nofollow" target="_blank">According</a> to two screenshots shared Friday on X by Crypto in America host Eleanor Terrett, the Investors For Transparency members wrote: "Tell Your Senator: Pass Crypto Legislation Without DeFi Provisions,” sharing a hotline number to contact their local Senators.
“Don’t Let DeFi Stall Innovation,” another snippet of the ad said, which appears to echo concerns from banking lobbyists over the CLARITY Act permitting stablecoin issuers to offer interest-bearing products that could be disguised as bank-like deposits and potentially draw trillions of dollars from the traditional banking system.
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 <img src="https://s3.cointelegraph.com/uploads/2026-01/019ba65a-5874-7bb2-bdf9-b5f22bc4d34a.jpg" title="" alt="Anti-DeFi group runs ads urging public to pressure Senators on crypto bill: Report">
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 Advertisement from the Investors For Transparency group. Source: <a href="https://x.com/EleanorTerrett/status/2009795675635306737" rel="noopener noreferrer nofollow" target="_blank">Eleanor Terrett</a>
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 The US Treasury estimated in April that $6.6 trillion worth of traditional banking deposits could <a href="https://cointelegraph.com/news/stablecoins-on-track-for-2-t-market-cap-by-2028-us-treasury" rel="noopener noreferrer nofollow">flow out of the banking system</a> if stablecoins see widespread adoption.
It comes as the Senate Banking Committee <a href="https://www.banking.senate.gov/hearings/01/09/2026/executive-session" rel="noopener noreferrer nofollow" target="_blank">published</a> an official notice for its <a href="https://cointelegraph.com/news/us-clarity-act-markup-crypto-regulatory-clarity-tim-scott" rel="noopener noreferrer nofollow">CLARITY Act markup</a> scheduled for this Thursday, Jan. 15, at 10:00am Eastern Time.
<h2 id="crypto-industry-annoyed-with-anti-defi-efforts">Crypto industry annoyed with anti-DeFi efforts</h2>
The banking lobby efforts have frustrated several members of the crypto community, including Uniswap Labs CEO Hayden Adams, who <a href="https://x.com/haydenzadams/status/2009809558605299914" rel="noopener noreferrer nofollow" target="_blank">said</a> it was both “ironic and unsurprising” that the Investors For Transparency organization is campaigning against DeFi while not revealing who they are and who they’re funded by. 
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 <img src="https://s3.cointelegraph.com/uploads/2026-01/019ba65a-5fc2-74ed-a90e-d77d24d6c913.jpg" title="" alt="Anti-DeFi group runs ads urging public to pressure Senators on crypto bill: Report">
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 Advertisement from the Investors For Transparency group. Source: <a href="https://x.com/EleanorTerrett/status/2009795675635306737" rel="noopener noreferrer nofollow" target="_blank">Eleanor Terrett</a>
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<h2 id="fears-crypto-market-structure-legislation-may-not-pass-this-year">Fears crypto market structure legislation may not pass this year&nbsp;</h2>
Several Democratic lawmakers are also reportedly pushing for <a href="https://cointelegraph.com/news/market-structure-bill-conflict-interest-safeguards" rel="noopener noreferrer nofollow">conflict-of-interest safeguards</a> in the crypto market structure bill.
There have also been fears that the <a href="https://cointelegraph.com/news/clarity-act-hinges-bipartisan-support-numbers" rel="noopener noreferrer nofollow">2026 US midterm elections</a> may <a href="https://cointelegraph.com/news/us-crypto-market-structure-bill-delayed" rel="noopener noreferrer nofollow">slow the momentum</a> of the CLARITY Act bill, with TD Cowen’s Washington Research Group reporting the bill may not pass Congress until 2027, with final implementation potentially pushed to 2029.&nbsp;
Related: <a href="https://cointelegraph.com/news/a16z-raises-15-billion-says-crypto-crucial-to-americas-future" rel="noopener noreferrer nofollow">A16z raises $15B, says crypto a 'key' to America winning next 100 years</a>
Senate Banking Committee Chair Tim Scott, however, appears <a href="https://x.com/BankingGOP/status/2009779765994025253" rel="noopener noreferrer nofollow" target="_blank">confident</a> that it can be passed much sooner and “deliver real results for the American people.”
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 <img src="https://s3.cointelegraph.com/uploads/2026-01/019ba65a-6403-75b0-ac6a-1d5a1bebf38d.png" title="" alt="Anti-DeFi group runs ads urging public to pressure Senators on crypto bill: Report">
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 Source: <a href="https://x.com/BankingGOP/status/2009779765994025253" rel="noopener noreferrer nofollow" target="_blank">US Senate Banking Committee</a> 
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Magazine:<a href="https://cointelegraph.com/magazine/davinci-jeremie-bitcoin-og-price-lambo-predictions-cointelegraph/" rel="noopener noreferrer nofollow"> Davinci Jeremie bought Bitcoin at $1… but $100K BTC doesn’t excite him</a>

Anti-DeFi group runs ads urging public to pressure Senators on crypto bill: Report

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