Despite the widespread interest in cryptoassets as an alternative asset class, there is still little consensus on whether they act in a manner that justifies their inclusion from a portfolio diversification perspective. The question often asked by market participants is whether cryptoassets are truly segmented…

With the fall of the Wall and the collapse of communism, people lucky enough to live under capitalism were finally assured of what our leaders had long told us: the West is the best. The end of the Cold War saw Western values sweep the…

NFTs are special types of tokens that reside on a distributed ledger and hold a digital asset, such as a document, picture or movie. There has recently been an explosion in their popularity, most notably in sports, art and music. We explore their key characteristics…

Concerns about financial bubbles in cryptoassets have intensified, given the rapid and unprecedented rise in their market capitalisation (currently at almost $2 trillion) and return of high volatility.   The very existence of bubbles in financial markets is somewhat controversial in the academic literature. In…

If we should never believe anything until it has been officially denied, then get ready to do your Christmas shopping in bitcoin.   Last week Amazon denied claims from an ‘insider’ that the company will accept bitcoin payments by the end of this year, and…

“What if?” is the dumbest question…when it’s about the past. What if I’d got into Oxbridge? What if I’d taken that job? What if I’d boarded the train before the sliding doors closed? Stop daydreaming about what can’t be undone. Look to the future instead….

This article explores the aggregate performance of cryptoasset funds since the outbreak of the Covid-19 pandemic. More specifically, we compare the performance of cryptoasset funds against the raw returns of the aggregate stock market and “traditional” hedge funds. 1. Introduction The global health crisis originated…

Money talks. It is the universal language of business, but when it comes to financial institutions, only a few, all-powerful actors have a voice. And a system that only suits the establishment stifles innovation and prevents the creation of new models and applications that would…

The traditional way of funding early-stage startups is through Venture Capital. Decentralised projects have experimented with innovative ways of raising funding by issuing security and utility tokens. We compare the different approaches and analyse how tokens can align the incentives of customers, founders and investors….