August 28, 2025
The GENIUS Act is Now Law. What's Missing?
The GENIUS Act is the first federal law to regulate stablecoins in the US. This piece looks at what still needs to happen next.
Stablecoin research
Most of this I wrote as a part-time researcher at MIT's Digital Currency Initiative. I also write on Substack.
Writing and talks
August 21, 2025
Will Stablecoins Impact the US Treasury Market?
Stablecoin issuers keep buying short-term Treasuries. Could that buying start to affect the stability of the safest reserve asset in the world?
August 4, 2025
Stablecoins and the Limits of Existing Analogies
How stablecoins compare to existing financial assets like money market funds, and where those comparisons succeed or fail.
July 15, 2025
1:1 Redemptions for Some, Not All
How stablecoin redemptions work in practice, and why the process looks so different in the primary and secondary markets.
May 2025
Designing Payment Tokens for Safety, Integrity, Interoperability and Usability
A research paper with JPMorgan's Kinexys and the MIT Media Lab's Digital Currency Initiative on design principles for payment tokens.
November 2023
Institutional Liquid Staking
I moderated a panel at the Staking Summit in Istanbul on where institutional liquid staking protocols stand.