The controversy began when OpenVPP, a blockchain initiative targeting the energy sector, posted on social media that it was working “alongside” Peirce on tokenizing electricity markets.
The project’s message was paired with a photo of Peirce and OpenVPP CEO Parth Kapadia, giving the impression of an endorsement. Peirce has since clarified that she does not provide backing or promotional support for any token projects or firms.
Often referred to as “Crypto Mom” for her openness to digital asset innovation, Peirce remains focused on policy work within the SEC. She is currently leading the commission’s crypto task force, which is charged with engaging small startups — those with ten or fewer employees — to ensure their perspectives shape future regulation.
That initiative is being rolled out through a series of roundtables across the country. New York City is next on the calendar, followed by Los Angeles, Cleveland, Scottsdale, Atlanta, and Ann Arbor. The sessions aim to give early-stage founders a voice in policy discussions that are typically dominated by large industry players.
Yet the OpenVPP incident underscores the challenges of balancing outreach with optics. As regulators engage with startups, even brief encounters can be misinterpreted or spun into promotional material. For Peirce, the episode highlights the thin line between regulatory dialogue and unintended endorsements.
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