DEF’s October Recap
November 20, 2025
Below you’ll find a recap of what the DeFi Education Fund (DEF) has been up to in October 2025. If you have any questions or would like to learn more about a specific activity, please do not hesitate to reach out to contact@defieducationfund.org.
DeFi and Dim Sum
On October 30, 2025, DeFi Education Foundation hosted its inaugural event—DeFi and Dim Sum—at the Golden Unicorn in NYC. As the bridge between policy and DeFi, DeFi Education Foundation is excited to use this opportunity to bring together DeFi developers, investors, and policymakers influencing the future of crypto legislation in the United States.
Responding to the U.S. Department of the Treasury’s Request for Comment
On October 17, 2025, DEF submitted two responses to Treasury concerning its Request for Comment on Innovative Methods to Detect Illicit Activity Involving Digital Assets.
Our first response concerns Treasury’s request for comment on digital identity verification in smart contracts. In this response, we explain why privacy matters in financial transactions and with emerging technologies, such as DeFi, for both American citizens and national security. We provide a general overview of digital identity infrastructure and identify the privacy and cyber risks associated with the current model of digital identity management and issuance, as well as risks associated with a digital footprint and the creation of honeypots of sensitive personal information. And, we identify the risks and vulnerabilities that exist in the digital asset ecosystem and the opportunity to strengthen Treasury’s cybersecurity efforts.
In collaboration with the Solana Policy Institute and Paradigm, our second response also addresses cybersecurity risks that currently exist in DeFi, and similarly highlights the honeypots that exist with the concentration of data and information in the traditional financial system, as well as vulnerabilities that exist in an evolving technology like DeFi. We evaluate the various tools currently being used for detecting illicit activity and mitigating illicit finance risk, and summarize the progress made and the importance of innovative activity-based risk management tools in the digital asset industry.
Continuing to Protect Software Developers in Market Structure Legislation
On October 8, 2025, a document from Senate Democrats, describing a regulatory framework for DeFi, was made public. DEF remains committed to ensuring DeFi is not a partisan issue, and is working tirelessly to educate all members of Congress on the complexities of DeFi and why it differs from traditional intermediaries. As DEF’s Executive Director stated:
“The DEF team remains unwaveringly committed to continuing constructive, nonpartisan engagements to advance digital asset market structure legislation. We are at a pivotal moment in crypto’s history where there is an unprecedented amount of bipartisan interest from lawmakers and regulators to develop clear, practical rules for crypto. DEF recognizes this is an important opportunity to establish durable policies that simultaneously protect consumers, software developers, and users of this evolving technology, and we will continue to educate, build coalitions, and advocate for a successful outcome.”
October Financial Disclosures
| Donations Received | $3,050,000 |
| Lobbyists | $35,073 |
| Public Relations | |
| Policy Litigation | $15,546 |
| Marketing | $110,010 |
| Merchandise | $1,026 |
| Operating Expense | $74,400 |
| Payroll and Associated Taxes | $215,550 |
| Professional Fees | $27,589 |
| Accounting | $15,670 |
| Legal | $11,419 |
| Other Consultants | $500 |
| Transacting Fees | $9,686 |
| Insurance | $2,582 |
| Tax & Licenses |
October Content and Appearances by DEF
Select Print/Online Media
- The Block: President Trump taps Michael Selig to lead CFTC amid push for crypto oversight: Bloomberg
- “Mike Selig is a well-respected lawyer and industry expert. He understands the tech and the need to allow room for innovation, but also cares about getting to the right legal answer,” said Amanda Tuminelli, executive director of DeFi Education Fund, in a statement.
- CoinDesk: Trump Names SEC Crypto Task Force Head Selig as Next Nominee to Run U.S. CFTC
- “He understands the tech and the need to allow room for innovation, but also cares about getting to the right legal answer,” noted Amanda Tuminelli, executive director of the DeFi Education Fund, in a statement.
- Decrypt: Circuit Breakers in DeFi? Why Experts Say Managing Chaos On-Chain Isn’t That Easy
- During a panel discussion at DC Fintech Week in Washington, D.C., Amanda Tuminelli, executive director of the DeFi Education Fund, said “there is no off button” in DeFi that would allow an individual or entity to exert unilateral control over networks and assets.
Podcast / Live Chats
- On October 10, 2025, DEF Senior Counsel Ayana Dow joined Coin Center’s Director of Policy Jason Somensatto, and moderator Michael Lewellen, Chief Solutions Engineer for crypto key infrastructure-provider Turnkey, for a “Digital Rights” discussion at the North American Blockchain Summit in Dallas, TX.
- On October 16, 2025, DEF Executive Director and Chief Legal Officer Amanda Tuminelli joined a panel, alongside DEF Board Member Greg Xethalis of Multicoin Capital, Georgia Quinn of Securitize, and Salman Banaei of Plume at DC FinTech Week entitled, “Always On. Always Risky?: Liquidity and On-Chain Finance.”
- On October 16, 2025, DEF Research Director Lizandro (Laz) Pieper joined Ian Miers from University of Maryland Baltimore, Ross Schulman from SpruceID, and moderator Veronica Irwin on a panel entitled “What the GENIUS Act Could Mean for Privacy and Anti-Money Laundering (AML)” at the DC Privacy Summit.
- On October 17, 2025, DEF Executive Director and Chief Legal Officer Amanda Tuminelli joined Crypto in America for a live broadcast to discuss recent policy happenings concerning market structure and recent submissions to Treasury, and underscored DEF commitment to helping policymakers and their staff understand the complexities of DeFi and protect software developers.
Blogs/Articles/Papers
- From Gatekeepers to Port Builders: The Shift in Web Front Ends by Rebecca Rettig, DEF Board Member and Chief Legal Office at Jito Labs; Amanda Tuminelli, DEF Executive Director and Chief Legal Officer; and Lizandro Pieper, DEF Research Director
- Bonus content: Cheat Sheet – a chart laying out the primary differences between Web2.0 and Web3.0 Front Ends.
- Securing the Next Era of American Innovation by Talia Davis, DEF Vice President of Government Relations
DeFi Educational Content
- DeFi Transaction Demo – In the first module of DEF’s educational series, DEF’s Policy Lead, Gavin Zavatone, walks you through the journey of how to hold and trade assets using a crypto wallet and a decentralized exchange protocol.
