Ahmad Mardeni
Hey there! I'm Ahmad Mardeni. I lead market expansion at Fluid, a DeFi lending and structured credit protocol.
13 years in tech and a few companies of my own along the way. I write here about credit, stablecoins, and how money actually moves.
Research
- Sept 2026
How the AI Buildout Stays Off the Balance Sheet
Meta's $27 billion Louisiana campus carries no debt on Meta's balance sheet. Four structures keep the AI buildout in the footnotes, and each one breaks differently.
15 min read - Aug 2026
What Stablecoins Actually Do for the US Debt
The popular story says the US legalised stablecoins to create a captive buyer for its debt. The conclusion is half right, the mechanism is wrong, and the real one is more interesting.
9 min read