Brendan Malone @brendanpmalone Twitter profile

Last Seen Profiles

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@begsullah

@moderhead

@MariaMario27802

Brendan Malone

@brendanpmalone

1 year

1/ i am a recovering central banker who now works in crypto i have a lot of appreciation for US policymakers worrying about risk in the financial system crypto gets tons attention because it’s an easy target but the real problems are so much bigger imo

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Brendan Malone

@brendanpmalone

10 months

pretty cool to see three central banks develop a prototype for cross-border payments using an AMM

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Brendan Malone

@brendanpmalone

1 year

1/ for many, the SVB debacle crystalized the relationship between money and credit looking toward the future, it’s important we make sure people have access to digital money that’s free of credit risk crypto has a vital role to play here👇

Moneyness In The Digital Age | Paradigm Policy

Paradigm Policy

policy.paradigm.xyz

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Brendan Malone

@brendanpmalone

2 years

1/ My new piece is now live on the Paradigm Policy site: Using On-Chain Data for Policy Research: Part 1

Using On-Chain Data for Policy Research: Part 1 | Paradigm Policy

Paradigm Policy

policy.paradigm.xyz

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Brendan Malone

@brendanpmalone

7 months

1/ we’re launching the @paradigm Policy Lab today to double down and broaden our policy push at a critical point in the national discourse in crypto policy

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Brendan Malone

@brendanpmalone

1 year

1/ i wrote another piece on using on-chain data for policy research looking at fiat-backed stables:

Using On-Chain Data for Policy Research, Part 2: Stablecoin Risk Rundown | Paradigm Policy

Paradigm Policy

policy.paradigm.xyz

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Brendan Malone

@brendanpmalone

1 year

former Fed chairs as cyberpunk hackers brought back to the future to save the digital economy from rampant inflation Bernanke, scheming

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Brendan Malone

@brendanpmalone

2 years

1/6 I’m thrilled to share that I have joined @paradigm as a Policy Associate. @matthuang , @fehrsam , and @alanapalmedo are building an incredibly impressive team that’s not afraid of running directly at the biggest challenges in crypto.

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Brendan Malone

@brendanpmalone

8 months

1/ in a new paper, @AustinAdams10 , @maherlatif_ , and i look at the electronification of finance by trying to imagine an AMM in 1700 AD with homing pigeons and paper stock certificates takeaway: public blockchains let you do things you couldn’t previously do

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Brendan Malone

@brendanpmalone

5 months

Spotted in London: A centralized exchange for trading illiquid coins of now defunct projects

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Brendan Malone

@brendanpmalone

9 months

1/ it’s great to see @FinancialCmte discussing stablecoins this week, as stablecoins are a critical part of future financial infrastructure here are some principles all policymakers should bear in mind as they do their work 👇

The Future of Payments Includes Stablecoins | Paradigm Policy

Paradigm Policy

policy.paradigm.xyz

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Brendan Malone

@brendanpmalone

1 year

15/ obv simplifying a lot here, but would like to see the big issues in traditional financial geopolitics tackled with similar vigor, creativity, and openness as crypto most of all: clear strategic direction, bc it feels like we’re grasping at straws /fin

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Brendan Malone

@brendanpmalone

1 year

2/ people want to hold USD “money” to store value and make payments most are familiar with cash and bank deposits, but there’s actually a spectrum of assets (of varying quality) that act like money: eurodollars, repo, commercial paper, etc.

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Brendan Malone

@brendanpmalone

1 year

14/ crypto is not perfect today, but everyday it is getting better as people internalize lessons from past experiences and build in the open w/ regulatory clarity it’s rocky sometimes, but the direction of travel is toward progress

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Brendan Malone

@brendanpmalone

11 months

had a great time chatting about the past, present, and future of money with the @BanklessHQ team 🙏 no better time than now to peel back the layers on something many of us take for granted

Bankless

@BanklessHQ

11 months

PREMIERE: We're asking the most Bankless question--what's money? 💸 Brendan ( @brendanpmalone ) has a unique perspective on money; he focused on crypto policy issues @federalreserve . Now he works @paradigm , a tech investment firm What's the Moneyness Spectrum? Let's find out 👇

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Brendan Malone

@brendanpmalone

7 months

live look at the Lab rn cc: @RSSH273

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Brendan Malone

@brendanpmalone

1 year

1/ as the regulatory heat turns up on crypto, i challenge skeptics (and believers) to try to think of crypto as a pressure-relief valve that empowers smart people to fix broken things

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Brendan Malone

@brendanpmalone

1 year

people forget that keynes was a degen currency speculator during the interwar period

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Brendan Malone

@brendanpmalone

1 year

13/ … 1) a small market overall, 2) skeptical of credit, 3) more transparent/predictable by design, and 4) risky in part because people want safe dollars on-chain, but they can’t have them

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Brendan Malone

@brendanpmalone

1 year

6/ we saw this in 2008-09, which was as much about shadow banking and financial plumbing as it was about subprime housing and complex derivatives and the same in 2020 w/ COVID

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Brendan Malone

@brendanpmalone

1 year

1/ i coded up a dashboard that displays mint/burn events for the top 5 fiat-backed stablecoins for 2017-2022: USDC, USDT, BUSD, USDP, and GUSD *best viewed on desktop

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Brendan Malone

@brendanpmalone

1 year

7/ in times of crisis, people want to be able to freely convert whatever they are holding into something safer on the spectrum sadly, sometimes market liquidity isn’t there so the Fed comes to save the day (and kicks the can down the road re: the bigger problem)

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Brendan Malone

@brendanpmalone

11 months

"USD is proof-of-stake where the Fed just sets the staking rewards" - @samkazemian

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Brendan Malone

@brendanpmalone

1 year

3/ this is what people are talking about when they reference the “shadow banking” system: money moving around the financial system OUTSIDE of traditional banks (i.e., primarily in non-banks)

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Brendan Malone

@brendanpmalone

1 year

let Yellen cook

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Brendan Malone

@brendanpmalone

1 year

11/ others, like @Kathleen_Tyson_ @matthew_pines @LevMenand @Brad_Setser @LynAldenContact @adam_tooze @gordonliao have written about these issues and are way more knowledgeable than i am would love to get everyone in a room to noodle on the problems and solutions

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Brendan Malone

@brendanpmalone

1 year

4/ some amount of shadow banking activity is good — it allows money supply to be more reactive and expand/contract with economic activity, which helps fuel economic growth

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Brendan Malone

@brendanpmalone

1 year

5/ at the same time, our regulatory/political apparatus and the underlying tech systems weren’t really designed for a system this large, opaque, and multi-dimensional

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Brendan Malone

@brendanpmalone

1 year

8/ the core issue is that people want (safe) dollars in places they can’t have them — due to technical, institutional, or geopolitical reasons — so - sovereigns hold USTs - hedge funds and HRTs use repo - the crypto economy has stables - etc

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Brendan Malone

@brendanpmalone

1 year

12/ because it feels like we’re sitting on a tinder box here, and so much policymaker attention is fixated on crypto — which is…

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Brendan Malone

@brendanpmalone

11 months

1/ on funnels, flatness, friction, and faith reflecting on ~1 year out of gov’t and ~1 year deeply immersed in crypto i love it here

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Brendan Malone

@brendanpmalone

1 year

bridging more fiat tokens to the Starbucks appchain

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Brendan Malone

@brendanpmalone

1 year

this excerpt from @adam_tooze about swap lines in 2007-2009 reads like it could have been written this weekend

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Brendan Malone

@brendanpmalone

7 months

2/ in addition to our regular legal writing + policy research and our Policy Council, v1 of the Lab will ship two new programs: - an academic fellowship for basic policy and legal research - a “bug bounty” style program for discrete policy questions (need your help here, anon)

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Brendan Malone

@brendanpmalone

1 year

@Timccopeland @0xfoobar @nlw @nic__carter @NeerajKA @paulkrugman @inversebrah hang this screenshot next to his nobel prize

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Brendan Malone

@brendanpmalone

1 year

my hot take is that people probably spend too much time worrying about CBDC when there are far more ubiquitous and pernicious affronts to privacy and economic freedom here *today*

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Brendan Malone

@brendanpmalone

1 year

9/ so, where are we now? since 2008-09 the treasury market has gotten significantly larger, more fragile, and more complex banks have even more restrictions on creating deposits, etc. demand for safe assets skyrocketing

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Brendan Malone

@brendanpmalone

1 year

10/ on top of that, the geopolitical landscape has changed DRAMATICALLY: - US-China decoupling - US sanctions and seizure of Russian USD assets - KSA and others reducing UST holdings - etc.

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Brendan Malone

@brendanpmalone

7 months

concerning network map showing the global complexity and opacity of DeFi protocol HSBC Bank

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Brendan Malone

@brendanpmalone

9 months

in 5 years it will cost $100k to make a feature film and $100m in marketing to buy enough social mindshare to get people to go to the movies

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Brendan Malone

@brendanpmalone

10 months

gm you can already see signs that London is absolutely committed to crypto

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Brendan Malone

@brendanpmalone

9 months

people are still collecting payments on bonds issued in 1648 makes you wonder

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Brendan Malone

@brendanpmalone

1 year

1/ the traditional “back office” at banks + corporates is going to need a mega revamp in order to adapt to structural changes when more and more assets go on-chain it needs to happen fast, because institutional crypto adoption is at the doorstep

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Brendan Malone

@brendanpmalone

10 months

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Brendan Malone

@brendanpmalone

6 months

Crypto-native policy groups are critical to crypto reaching it's full potential. Proud to have the Policy Lab support @TeamPOSA , which is helping to ensure that PoS networks and the ecosystems that support them continue to thrive. 🫡

Proof of Stake Alliance (POSA)

@TeamPOSA

6 months

Today we are proud to announce our updated Staking Industry Principles & call on all builders, founders, & technologists in the staking space to align with them to enhance consumer protection, foster responsible innovation, & support the sustainable growth of PoS networks. 👇🧵

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Brendan Malone

@brendanpmalone

4 months

In a world where humans routinely live to 130+ yrs, not having to trust institutions becomes increasingly important The longer you live, the more likely it is that you’ll live during a time of significant institutional upheaval Probably even more true for the next 50-100 years

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Brendan Malone

@brendanpmalone

11 months

one enduring legacy of crypto will be the mainstreaming of anons as public intellectuals already seeing it more and more often in non-crypto online spaces

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Brendan Malone

@brendanpmalone

1 year

@JustinWolfers direct result of always having to be on international calls at terrible times?

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Brendan Malone

@brendanpmalone

10 months

@jackchong_jc by 2026 every great global investment bank will have an LP desk

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Brendan Malone

@brendanpmalone

6 months

Enjoyed chatting with @JacobRobinsonJD about the Policy Lab! Check it out below to hear about our vision and how you can get involved👇

Jacob Robinson

@JacobRobinsonJD

6 months

A little over a month ago, @RSSH273 and @brendanpmalone launched the @paradigm Policy Lab to address the biggest policy challenges in crypto In this podcast, Rodrigo and Brendan share insights on history, research and progress in the policy arena

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Brendan Malone

@brendanpmalone

1 year

🚀

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Brendan Malone

@brendanpmalone

7 months

4/ just consider the hundreds of @DuneAnalytics wizards and independent researchers like @zachxbt and imagine if we could enlist them to answer earnest questions from policymakers using real data

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Brendan Malone

@brendanpmalone

5 months

Central bank liquidity innit

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Brendan Malone

@brendanpmalone

2 years

the year is 2029. logging into twitter requires completing a reverse CAPTCHA to prove you aren’t human. inside this new utopia, metamask help abounds.

t11s

@transmissions11

2 years

with AI increasingly approaching or exceeding human capabilities, it is frankly appalling for elon and twitter to be discriminating against our spambot compatriots who simply wish to provide the fastest and easiest metamask support

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Brendan Malone

@brendanpmalone

10 months

“That said, it is also possible that technological progress may solidify the dominant role of the dollar. For example, about 99 percent of stablecoin market capitalization is linked to the U.S. dollar, implying that crypto assets are de facto traded in U.S. dollars.”

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Brendan Malone

@brendanpmalone

1 year

in light of recent events Jamie Dimon is getting added here

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Brendan Malone

@brendanpmalone

1 year

"how do we face the rising tide of authoritarianism in a way that is not just saying, well, democracy is better, so we win? ... i think it means going back to neglected traditions in the American system, in particular, economic decentralization."

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Brendan Malone

@brendanpmalone

10 months

@notnotstorm @socrates1024 @transmissions11 this will become a cornerstone of future opsec courses

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Brendan Malone

@brendanpmalone

7 months

6/ for more info, including how to get involved, check out our launch post and the Lab's full site here:

Paradigm Policy

policy.paradigm.xyz

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Brendan Malone

@brendanpmalone

7 months

flash loan arbitrage is like crypto’s version of the Treasury basis trade however, unlike the basis which relies on mass leverage in an opaque part of fincancr, flash loans are: - contained to the transaction where the arb happens - available (and visible) to anyone

Shea Ketsdever

@SheaKetsdever

7 months

Excited to share a new searching guide from ⚡️🤖 Ep. 2 — Flash loan arbitrage We’ll cover 1. Creating a MEV-Share bot 2. How arb math *actually* works 3. The magic of flash loans

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Brendan Malone

@brendanpmalone

5 months

Sad to hear about Charlie Munger. My first job out of college had me working out of the offices of the Buffett Foundation, in the same building as Berkshire on Farnam Street in Omaha. My work was unrelated to anything Charlie did, but his approach to thinking loomed large.

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Brendan Malone

@brendanpmalone

2 years

busy week for crypto in DC… and not just for humans cc: @_Dave__White_ @FrankieIsLost @JBSDC

Gobblers x DC

Art Gobblers - a digital art experiment by Justin Roiland and Paradigm

artgobblers.com

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Brendan Malone

@brendanpmalone

10 months

if the digital euro was serious here it would join CT instead of LinkedIn

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Brendan Malone

@brendanpmalone

10 months

rate limits, but with a cap and trade system

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Brendan Malone

@brendanpmalone

8 months

before reading this announcement, read this absolute banger on the origins of Swift

Swift

@swiftcommunity

8 months

Exciting news! Together with more than a dozen major financial institutions, we’ve successfully shown how the #Swift network can facilitate the transfer of tokenised assets across multiple public & private #blockchains . 𝗟𝗲𝗮𝗿𝗻 𝗺𝗼𝗿𝗲:

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Brendan Malone

@brendanpmalone

7 months

5/ we have a long road ahead, but thankfully the crypto community is full of gigachads and good actors who genuinely care about doing what's best for the long-term success of crypto

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Brendan Malone

@brendanpmalone

10 months

@CampbellJAustin @JohnEDeaton1 @nic__carter @BanklessHQ @perkinscr97 @laurashin @RSSH273 @JBSDC @davidzmorris @malekanoms it’s bc you didn’t address him as the President of John Reed Stark Consulting LLC

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Brendan Malone

@brendanpmalone

1 year

@pitdesi @Noahpinion the OG super mario bros movie from ‘93 is hilariously bad but also worth watching

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Brendan Malone

@brendanpmalone

1 year

7/ it's refreshing to operate in an environment where you feel like you can do something, and if you're interested in math/science/history/geopolitics/finance/whatever, crypto probably has something for you to do

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Brendan Malone

@brendanpmalone

1 year

6/ and they don’t require a dramatic overhaul of our current system a la CBDC or unlimited deposit insurance ➡️the coexistence of crypto and fiat can be mutually reinforcing and add a layer of discipline to both

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Brendan Malone

@brendanpmalone

1 year

1/ a few thoughts on today’s policy statement from the Fed

Federal Reserve Board issues policy statement to promote a level playing field for all banks with a...

The Federal Reserve Board on Friday issued a policy statement to promote a level playing field for all banks with a federal supervisor, regardless of deposit i

www.federalreserve.gov

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Brendan Malone

@brendanpmalone

1 year

5/ but there are other ways to do that… - crypto is hard digital money that can be held with no credit risk - well-designed stablecoins can be safer than bank deposits these don’t require complicated credit analysis to price

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Brendan Malone

@brendanpmalone

9 months

@AustinAdams10 was so born to be a researchooooor his parents gave him two initials that start with “A” so he’d always be first author

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Brendan Malone

@brendanpmalone

8 months

9/ we are hoping to use this piece (link below) as a jumping off point for a series exploring how we can use blockchains to build a financial system that works for more people

Electronification, trading, and crypto | Paradigm Policy

Paradigm Policy

policy.paradigm.xyz

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Brendan Malone

@brendanpmalone

1 year

bad news for anyone that didn’t hedge stamp risk

NBC News

@NBCNews

1 year

The United States Postal Service is seeking approval to hike the price of first-class mail stamps to 66 cents from 63 cents to offset the rise in inflation. If approved, it would take effect July 9.

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Brendan Malone

@brendanpmalone

1 year

give the people what they want: livestream of the f-22s vs the aliens at halftime

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Brendan Malone

@brendanpmalone

1 year

i know the cool thing is to call this place a toxic cesspool, but i’m really grateful for everything it has brought me i was in college from 2007-11 right as it hit inflection and have been learning/growing here ever since

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Brendan Malone

@brendanpmalone

7 months

here's some additional color, from @nmcrooks at @TheBlock__

Paradigm launches Policy Lab in move to advance crypto advocacy

The Policy Lab will host a Research Hub to "uncover and tackle discrete policy questions relevant to the future of the crypto ecosystem."

www.theblock.co

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Brendan Malone

@brendanpmalone

1 year

3/ i spent years thinking about broken parts of the traditional financial system that we just accept as broken because there are too many barriers to fixing them good ideas get discounted because they come from outsiders

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Brendan Malone

@brendanpmalone

5 months

Oh?

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Brendan Malone

@brendanpmalone

1 year

here’s Volcker working deep in the lab

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Brendan Malone

@brendanpmalone

1 year

the financial system is a rube goldberg machine

Conks

@concodanomics

1 year

the entire repo market visualized

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Brendan Malone

@brendanpmalone

11 months

online discovery feels increasingly centralized/throttled it used to be a lot easier to accidentally wander into weird and cool corners of the internet

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Brendan Malone

@brendanpmalone

11 months

there was a 2-3 year period where i made a majority of the graphics that went into FRB and BIS crypto-adjacent reports absolutely heinous abuse of Word/SmartArt thinking about commissioning @_yangyou and @achalvs for a formal roast

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Brendan Malone

@brendanpmalone

1 year

@NickTimiraos most shocking this about this is how quickly the researchers were able to get to print

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Brendan Malone

@brendanpmalone

11 months

let him cook

Justin Slaughter

@JBSDC

11 months

@brendanpmalone I just need another hour.

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Brendan Malone

@brendanpmalone

7 months

7/ DMs are open, so reach out to me or @RSSH273 with any questions 🫡 gm, anon 🧪🧪🧪

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Brendan Malone

@brendanpmalone

1 year

1/ one thing that feels understudied in crypto is what economic intuition tells us about the expected average “size” of crypto companies which might explain some of the differences between the US and other jurisdictions?

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Brendan Malone

@brendanpmalone

11 months

everyone should be on @JBSDC watch rn

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Brendan Malone

@brendanpmalone

11 months

i used ChatGPT and Midjourney to create a simple website that shows how much money USG DAO has left before the debt limit is hit:

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Brendan Malone

@brendanpmalone

1 year

Greenspan wearing tweed in almost every version

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Brendan Malone

@brendanpmalone

2 years

3/ It still surprises me when I read an academic/policy paper on crypto and the only data cited is price or volume from a third-party aggregator. There’s so much on-chain data available!

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Brendan Malone

@brendanpmalone

2 years

1/ Having trouble keeping track of the deliverables from Biden’s crypto Executive Order? I made simple website that has everything you need from E.O. 14067 in one place:

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Brendan Malone

@brendanpmalone

6 months

The days are long but the decades are short

I turned 30 last week and a friend asked me if I'd figured out any life advice in the past decade worth passing on. I'm somewhat hesitant to publish this because I think these lists usually seem...

blog.samaltman.com

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Brendan Malone

@brendanpmalone

9 months

new oracle update just dropped

Bloomberg

@business

9 months

The US had its credit rating cut one step to AA+ from the top ranking of AAA by Fitch Ratings, echoing a move made more than a decade ago by S&P in 2011. @annmarie and @JMathieuReports break down how the chaos in Washington pushed Wall Street

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Brendan Malone

@brendanpmalone

10 months

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Brendan Malone

@brendanpmalone

2 years

6/ Eventually, I hope to share some of the datasets I��m creating for open use, so that any interested party in government/academia can conduct research on their own.

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Brendan Malone

@brendanpmalone

11 months

watch out for onchain NIMBYism (not in my block space)

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Brendan Malone

@brendanpmalone

5 months

Forking is one of the most important decentralization primitives in crypto Traditional corporations tend towards M/A = concentration/centralization over time Community cleavage in crypto via forks = diffusion over time Ability to exit is critical

Viktor Bunin 🛡️

@ViktorBunin

5 months

I hope Cosmos does fork. For too long its been impossible for the chain and community to move forward because it was being pulled in multiple directions. A separation here will do everyone a lot of good.

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Brendan Malone

@brendanpmalone

1 year

tomorrow is the first april fools’ day in history with chad AI stay safe out there

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