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• Crypto markets are once again in turmoil. Bitcoin is down around 45 % and ether around 55 % over the past six months. Extreme, but not unprecedented. Watch the BBC interview Bitcoin volatility is structural. Crypto markets are prone to violent crashes and spikes because major exchanges combine trading, market-making, and clearing. During downturns, this creates highly pro-cyclical mass…
Self-regulated crypto exchanges need to prove their solvency using stress tests for capital adequacy, not a proof of reserves. Shortly...
One of my favourite journalists (Ryan Browne, CNBC) sent me some questions which were precipitated by his reading of this article. There...
Price Manipulation Bots Caused Mass Binance Liquidations on 26 July 2021 The class actions against Binance for irresponsible behaviour...
Tether Corporation is not printing USDT for the purpose of inflating Bitcoin's price, even though it often has that effect (as explained...
Of the many interesting response to my latest blogs, the most informative came from a UK trader who shared screenshots with me (below)...
Lets start by summarizing stage 1, from yesterday's blog. My diagram there depicts how our imaginary trader XYZ starts with 100,000...
As Tether corporation continues to obfuscate the identity of the companies whose commercial paper constitutes the majority of its $75...
This is from the FT on Saturday 16 Oct: "The CFTC order found that Tether relied on unregulated and third-party entities to hold funds,...
Comments on Replies from Binance’s Representative This is a continuation of my last blog about how the liquidation of so many long...
How insufficient insurance funds might explain the outage of Binance’s futures platform on May 19 and the potentially toxic relationship...
This picture represents the results of a bitcoin (BTC) price discovery analysis between the highly-controversial Binance exchange and...
The figure above shows the results of applying a state-of-the-art econometric model for identifying high-frequency volatility flows, to...
I’m learning a lot as I become more familiar with talking with the press. Most contacts follow my blogs, or my press releases from the...
Bitcoin variance swaps have been traded on-chain for nearly two years. Here is the smart contract code for doing so. However, these...
My thoughts about dogecoin and other meme coins, platform coins, exchange tokens, De-Fi and NFTs relative to bitcoin, and the necessity...
There isn't anything particularly unique about dogecoin. Like bitcoin and other so-called `payment’ coins dogecoin has no fundamental...
If you're looking for follow-up stories on this week's news that the Treasury and the Bank of England are exploring the possibility of...
Full interview available until end of this month here YouTube extract here FT article here University of Sussex news article here...
I've just finished my own YouTube channel for sharing the videos I made during lockdwon for teaching University of Sussex Finance...