<span style="font-weight: 400">The office of Senator Elizabeth Warren has recently <a href="https://twitter.com/bantg/status/1440095140127911937?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1440095140127911937%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fsenator-warren-s-office-confuses-makerdao-for-failed-2016-project-the-dao" target="_blank" rel="nofollow noopener">mistaken</a> MakerDAO, the top 10 Defi protocol for an early failed experiment in the year 2016, the project that is called The DAO. In accordance with the recent chat between the MakerDAO developers and the office of Elizabeth Warren, there is confusion related to the current Defi ecosystem.</span>
<h2><span style="font-weight: 400">Senator Elizabeth Warren Confuses MakerDAO with The DAO Project</span></h2>
<span style="font-weight: 400">A screenshot started circulating on September 20, on social media that shows the dialogues between the members of the community of the <a href="https://www.cryptoknowmics.com/news/centrifuge-makerdao-collaborates-to-connect-defi-with-rwas/">MakerDAO</a>, discussing the results from a recent meeting between the representatives of the project and the office of Senator Warren.</span>

<span style="font-weight: 400">It has been revealed in the screenshot that the Governance delegate of MakerDAO, PaperImperium, claims to have spent a lot of time convincing Senator Warren that Maker is dissimilar to the DAO. The DAO project reportedly failed back in the year 2016.</span>

<span style="font-weight: 400">According to the data revealed by Defi Llama, MakerDAO is the sixth-largest Defi protocol commanding a total value locked of over $8.2 billion. </span>

<span style="font-weight: 400">Though there is already confusion, the delegate said that the Senator did not seem much interested in them, and they are looking forward to another meeting in approximately three weeks.</span>
<h2><span style="font-weight: 400">Elizabeth Warren Labels Crypto as the New Shadow Bank</span></h2>
<span style="font-weight: 400">The meeting has come after increasing efforts from MakerDAO in order to promote initiatives developing dialogue between the crypto industry and lawmakers. In recent months, Elizabeth Warren has been an <a href="https://www.cryptoknowmics.com/news/crypto-needs-more-vigilance-to-avoid-systemic-dangers-elizabeth-warren/">outcast</a> to the crypto industry and even labeled crypto as the new shadow bank and a lousy investment in recent months. </span>

<span style="font-weight: 400">The DAO was one of the major projects that were launched back in the year 2016 after raising USD 150 million worth of ETH through a token sale. It should be noted that the project was hacked due to code vulnerabilities.</span>

Senator Elizabeth Warren Mistakes MakerDAO for a Failed 2016 Project, The DAO 

The office of Senator Elizabeth Warren has mistaken MakerDAO, the top 10 Defi protocol for an early failed experiment in 2016, The DAO.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

Senator Elizabeth Warren Mistakes MakerDAO for a Failed 2016 Project, The DAO

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