This is the article we had prepared around 1-2 weeks ago (data sample starts in October 2014 and ends on 4th of March 2020). But then coronavirus hit our country (Slovak Republic), and we were doing a lot of crisis management tasks and therefore were not able to publish it on time. Now, after...

Bitcoin is the oldest and most widely established cryptocurrency network with the highest market capitalization among all cryptocurrencies. Although bitcoin (with lowercase b) is increasingly viewed as a digital asset belonging to a new asset class, the Bitcoin network (with uppercase B) is a...

On December 1, 2017, the Chicago Mercantile Exchange Inc. and the CBOE Futures Exchange self-certified new contracts for cash-settled bitcoin futures products. The self-certification process allows designated contract markets to list new derivative products one day after submitting in writing to...

Is bitcoin the new digital gold? To answer this question, we investigate the potential benefits of bitcoin during extremely volatile periods. We use the multivariate extreme value theory, which is the appropriate statistical approach to model the tail dependence structure of the return...

At the end of 2017, the Bitcoin price dropped significantly by around 70% over two months. Since the introduction of Bitcoin futures coincided with this market crash, the new financial instrument might have caused the market crash, the literature emphasizing that the futures enabled investors to...

We examine the association of the Bitcoin price crash risk with economic uncertainty and behavioral factors. We show that economic uncertainty displays a negative and significant association with Bitcoin price crash risk, indicating that when economic uncertainty is high, the crash risk of...

We outline a three-step framework to investigate stablecoin arrangements and quantitatively assess their risk. The first step is to classify the stablecoin arrangement into three parts-coin structure, transfer system(s) and financial service(s) - and categorize the attributes of each part. The...