Uniswap founder Hayden Adams has publicly accused Citadel CEO Ken Griffin of lobbying the SEC to regulate decentralized protocol developers as centralized intermediaries. Adams argues that such regulation ignores the 'fair access' nature of DeFi and threatens the future of open-source software development. The dispute highlights the growing tension between DeFi protocols and traditional financial powerhouses regarding the regulatory framework. [Update] Coinbase CEO Brian Armstrong has expanded on this criticism, characterizing Citadel's recent letter to the SEC as an attempt at "regulatory capture." Armstrong interprets the move as a strategic play to establish legal standing for future lawsuits against the regulator, particularly anticipating moments when the SEC might adopt innovation exemptions. He argues that traditional finance incumbents are positioning themselves to challenge regulations that don't favor their established models, rather than embracing the growth opportunities presented by the new technology.