Byron Gilliam

Byron Gilliam

Byron Gilliam writes The Breakdown newsletter, in which he tries to explain crypto markets to traditional investors and traditional markets to crypto investors (while trying to explain both to himself). Before joining Blockworks, Byron spent 25 years trading international equities for banks and brokers in Frankfurt, London, Paris and New York. He holds a bachelor's degree in History from Binghamton University. Contact Byron at [email protected].
article-image

In bonds, stablecoins and billionaires, a reminder of what makes crypto special

article-image

If the president breaks the Fed, he’ll own the budget problems

article-image

Tempo might ultimately test what people will pay for decentralization

article-image

Where TradFi needs bankers and lawyers, DeFi just needs a function call

article-image

If AI is a replacement for humans, wouldn’t companies fire the expensive ones first?

article-image

In markets, overconfidence is both feature and bug

article-image

For DATs, getting to the stock market first may mean owning a business no one wants

article-image

A business that gives away 75% of what it raises isn’t selling equity — it’s selling a product

article-image

Elder fraud, hard money myths, and tokens that refuse to stay dead

article-image

The ECB’s Stablecoin Defense Initiative™ seems doomed to fail

article-image

A stock by any other name — even “token” — is still a security

article-image

Uber raised fares. Disney ignored costs. Linux gave everything away. Which model should Ethereum follow?

article-image

Bubbles are how markets create the future

article-image

Crypto finds fundamentals, Chanos books profits and prediction markets make trouble

article-image

Stripe and Circle are betting the plumbing of payments is ripe for disruption

article-image

Gold is proof that belief sustained over millennia creates real value; crypto is hoping to take a shortcut

article-image

Every transformational technology begins with utopian hopes, and then runs into the world as it is

article-image

If fear moves markets, there could be more all-time highs to come

article-image

Airlines defend their rewards moat, Binance courts favor over breakfast, DAT fees pile up and systematic thinking

article-image

An SEC commissioner walks into a cypherpunk meetup…