Remember when Solana burst onto the scene in 2020 with ambitions to rule decentralized finance? Well, five years and over eight billion transactions later, those backing this “Ethereum killer” are setting their sights even higher: they’re taking on Washington D.C.

But, let’s be real, getting Solana’s message heard on Capitol Hill won’t be a walk in the park. DeFi still struggles with a reputation problem there, often unfairly linked to shady activities like money laundering and hacking – despite crypto gaining more acceptance overall.

That’s where the Solana Policy Institute comes in.

Launched in March, this policy-focused arm of Solana, the second-biggest layer-1 network by total-value locked, aims to be the voice for all those pseudonymous coders and innovative founders building on Solana and other blockchains within the vast DeFi world. For those not in the know, DeFi is basically a broad term for crypto’s world of self-driving financial services – the kind that cut out traditional middlemen like banks.

Leading this charge are Kristin Smith, the outgoing CEO of the Blockchain Association, as President, and Miller Whitehouse-Levine, former Director of the DeFi Education Fund, as CEO. These aren’t your average lobbyists; they’re crypto-savvy insiders who speak fluent D.C. and understand the lingo of the crypto trenches.

Together, they’re on a mission to clean up DeFi’s sometimes murky image and make sure it stays on the radar of policymakers.

“The world keeps spinning, and Congress needs to keep up with what’s happening,” Whitehouse-Levine explained to Decrypt.

He continued, “We want to ensure that those in D.C. making the rules, and everyone advocating for their interests, really understand all the exciting things being built on Solana and the potential for even more innovation on-chain.”

The SPI is planning a series of “fly-ins,” bringing developers, founders, and builders straight from the digital frontlines to Capitol Hill to educate lawmakers, according to Whitehouse-Levine.

These fly-ins mark a big step up in Solana’s D.C. presence. For years, Solana and other blockchain advocates have been holding monthly policy chats by phone, Whitehouse-Levine mentioned. But, those virtual meetings haven’t always led to face-to-face invites with policymakers.

“There’s just no substitute for having the actual people building this technology come to Washington, explain their vision to policymakers, and show them firsthand what they’re creating,” Whitehouse-Levine emphasized.

One big question mark, though, is how the SPI will fund this educational push. Whitehouse-Levine remained tight-lipped about the Solana Policy Institute’s war chest, declining to say how much money they have or where it’s coming from.

However, a source in the know hinted to Decrypt that a major funding announcement is coming soon.

Meanwhile, digging deeper, three sources within the Solana community reportedly told Unchained on Friday that they believed the Solana Foundation was backing the organization financially.

The Solana Policy Institute isn’t officially linked to the Solana Foundation (based in Switzerland and dedicated to Solana’s growth), but their goals definitely seem to align.

Decrypt reached out to the Solana Foundation repeatedly for their take on this, but haven’t heard back yet.

DC’s growing crypto embrace

The SPI’s arrival comes on the heels of a major crypto lobbying push that helped elect what’s seen as the most crypto-friendly Congress and administration to date. This is speeding up the industry’s efforts to shake off any lingering negative vibes around digital assets in the US.

However, even with lawmakers and a pro-crypto President Trump increasingly open to Web3, some are still wary of decentralized finance. The sector’s anonymous founders, meme coin creators, and “shadowy super coders” aren’t exactly known for playing the political game in the same way as their corporate counterparts at centralized exchanges, who’ve become pros at navigating Capitol Hill to push their agenda.

And they also haven’t been throwing around as much cash to influence regulators and lawmakers. Looking at 2024 data, crypto giants like Coinbase, Ripple Labs, and Andreessen Horowitz topped the list of donors to pro-crypto super PAC Fairshake, pouring in over $150 million combined, according to OpenSecrets data.

Solana-linked donors, on the other hand, while being Fairshake’s 20th-largest donor and a top DeFi contributor, only chipped in $25,000 last year, the same data reveals.

These factors might be why DeFi leaders have been left out of some key discussions. For example, when the Trump administration hosted its first-ever Crypto Summit in D.C. in March, inviting over a dozen crypto bigwigs, only a handful of the roughly two dozen attendees were representing DeFi projects.

Still, SPI founder Whitehouse-Levine is optimistic that the Solana Policy Institute, with heavy hitters like Kristin Smith at the helm—a Fortune 40 Under 40 in Government and Politics honoree and a top lobbyist according to The Hill—will help DeFi get a seat at more tables on Capitol Hill.

“She’s a legend in crypto policy, and…in my opinion, she’s been the bedrock of the industry’s policy efforts over the last eight years,” he stated.

‘Meme coin casino’ makeover

But, let’s face it, Solana doesn’t exactly have the squeakiest clean image that someone like Smith might bring.

Since launching in 2020, Solana has gained popularity, partly by becoming known as a “meme coin casino.” It’s one of the easiest and cheapest places to launch a token that could blow up overnight… or crash just as fast.

It’s a wild west where people pull crazy stunts – literally setting themselves on fire or faking their own deaths – to pump up worthless tokens, and even heads of state have been accused of scamming traders on social media.

All this drama could seriously hurt Solana’s chances of connecting with regulators and lawmakers. But Whitehouse-Levine believes smart policy can rein in the chaos and help Solana clean up its act.

“First things first, we definitely need to stop people setting themselves on fire,” he told Decrypt, almost in disbelief. “I mean, seriously, did we really just say that out loud?”

“Crypto’s seen speculative booms before, and a clear regulatory framework can really help calm things down. That’s in everyone’s best interest,” Whitehouse-Levine added.

But to get those regulations in place, it’s crucial for developers and lawmakers to see eye-to-eye, and that’s where go-betweens like Whitehouse-Levine, Smith, and policy experts like Amanda Tuminelli from the DeFi Education Fund come in. Tuminelli, who will be working closely with SPI on DeFi policy issues, told Decrypt.

“We’re all making a real effort to connect directly with developers and bridge the gap between DeFi builders and the Hill,” Tuminelli said.

“It’s really important we get clear laws on the books now, while we have this window of opportunity in Congress,” she emphasized, adding that she’s noticed more securities regulators and lawmakers lately holding meetings about issues facing DeFi developers.

“I think people are seeing the chance and putting resources into making it happen,” Tuminelli concluded.

Edited by James Rubin