Essays and notes on finance, digital assets and technology — plus whatever else I end up measuring.https://siddhants.com/en-ushttps://siddhants.com/blog/coin-research-202603/usdc-stablecoin/https://siddhants.com/blog/coin-research-202603/usdc-stablecoin/The Mechanics Behind `USDC` Revenue — And Why the 2026 Renewal Changes EverythingMon, 02 Mar 2026 00:00:00 GMTDigital AssetsFinancehttps://siddhants.com/blog/coin-research-202603/base-chain/https://siddhants.com/blog/coin-research-202603/base-chain/Sequencer Economics, OP Stack Departure, and the Revenue Line Most Models Aren't ModelingMon, 02 Mar 2026 00:00:00 GMTDigital AssetsFinancehttps://siddhants.com/blog/coin-research-202603/deribit/https://siddhants.com/blog/coin-research-202603/deribit/Derivatives Revenue, PPA Amortization, and the CME Threat That Consensus Hasn't PricedMon, 02 Mar 2026 00:00:00 GMTDigital AssetsFinancehttps://siddhants.com/blog/coin-research-202603/eth-staking/https://siddhants.com/blog/coin-research-202603/eth-staking/ETH Staking Mechanics, Yield Compression, and the Math Problem That Consensus Has Partially PricedMon, 02 Mar 2026 00:00:00 GMTDigital AssetsFinancehttps://siddhants.com/blog/coin-research-202603/asc350-gaap-loss/https://siddhants.com/blog/coin-research-202603/asc350-gaap-loss/ASC 350-60, Unrealized Crypto Losses, and Why GAAP EPS Is Now Structurally DistortedMon, 02 Mar 2026 00:00:00 GMTDigital AssetsFinancehttps://siddhants.com/blog/coin-research-202603/developer-platform/https://siddhants.com/blog/coin-research-202603/developer-platform/The CDP, Institutional Infrastructure, and the AWS Parallel Nobody Is QuantifyingMon, 02 Mar 2026 00:00:00 GMTDigital AssetsFinancehttps://siddhants.com/blog/coin-research-202603/coinbase-one/https://siddhants.com/blog/coin-research-202603/coinbase-one/Subscription Economics, Cannibalization Math, and the Trade-Off Coinbase Has Never QuantifiedMon, 02 Mar 2026 00:00:00 GMTDigital AssetsFinancehttps://siddhants.com/blog/coin-research-202603/model-walkthrough/https://siddhants.com/blog/coin-research-202603/model-walkthrough/Architecture, assumptions, and outputs of the nine-tab financial model behind the Coinbase Infrastructure Flywheel seriesMon, 09 Mar 2026 00:00:00 GMTDigital AssetsFinancehttps://siddhants.com/blog/lego-fication-of-finance/https://siddhants.com/blog/lego-fication-of-finance/Why Composability Is the Most Important Word You're Not Talking AboutWed, 18 Feb 2026 00:00:00 GMTDigital AssetsAIFinancehttps://siddhants.com/blog/cryptos-transparency-paradox/https://siddhants.com/blog/cryptos-transparency-paradox/This piece references the crypto market crash of January-February 2026, triggered by broad risk-off sentiment.Tue, 10 Feb 2026 00:00:00 GMTDigital AssetsFinancehttps://siddhants.com/blog/dcf-for-crypto/https://siddhants.com/blog/dcf-for-crypto/An investigation into using DCF Modeling for Crypto-native companies.Wed, 04 Feb 2026 00:00:00 GMTDigital AssetsFinancehttps://siddhants.com/blog/ai-model-demo/https://siddhants.com/blog/ai-model-demo/This is a demo for AI model development.Tue, 25 Jun 2024 00:00:00 GMTMachine LearningPythonhttps://siddhants.com/blog/stems-2024-talk/https://siddhants.com/blog/stems-2024-talk/Notes from an introductory session on Options at STEMS 2024 Camp (CMI). Covers fundamental ideas of Financial Mathematics and explains the structure of options.Thu, 22 Feb 2024 00:00:00 GMTFinanceMathOptionshttps://siddhants.com/blog/svi-with-pyro/https://siddhants.com/blog/svi-with-pyro/An in-depth explanation of the Pyro tutorial adapted from Statistical Rethinking. Explores the relationship between topographic heterogeneity and GDP per capita using Bayesian inference.Sun, 24 Sep 2023 00:00:00 GMTMachine LearningPythonProbability