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Carol Alexander’s Blog.
Carol AlexanderProfessor of Finance, University of Sussex
- Economics & Finance · April 11, 2023 · 12 min readHow Will The Shanghai Fork Affect The De-Fi Crypto Ecosystem?A blockchain is run by a peer-to-peer network of linked devices called nodes and there are many different types of nodes, depending on the blockchain, from simple wallets which could be connected…
- Economics & Finance · December 16, 2022 · 4 min readHow Should Binance Prove It Is Solvent?Self-regulated crypto exchanges need to prove their solvency using stress tests for capital adequacy, not a proof of reserves.
- Economics & Finance · July 7, 2022 · 9 min readWhy This Crypto Crash Is DifferentOne of my favourite journalists (Ryan Browne, CNBC) sent me some questions which were precipitated by his reading of this article.
- Economics & Finance · January 17, 2022 · 15 min readBinance Spoofy Bots Cause Mass LiquidationsThe class actions against Binance for irresponsible behaviour leading to mass long and short liquidations on 19 May 2021 are in progress so I will not be posting about that today.
- Economics & Finance · November 14, 2021 · 3 min readThe Tether-Binance Axis and the Great Crypto Crash of 2022Tether Corporation is not printing USDT for the purpose of inflating Bitcoin's price, even though it often has that effect (as explained in Friday’s blog).
- Economics & Finance · November 14, 2021 · 1 min readBinance Still Onboarding Fiat and Offering 50X to 125X LeverageOf the many interesting response to my latest blogs, the most informative came from a UK trader who shared screenshots with me (below) depicting widespread fiat depositing mechanisms and allowance…
- Economics & Finance · November 13, 2021 · 2 min readTether and Bitcoin Ponzi Ecosystem Stage 2: DOWNLets start by summarizing stage 1, from yesterday’s blog. My diagram there depicts how our imaginary trader XYZ starts with 100,000 bitcoins, sequentially converts lots of 100 BTC to USDT, and…
- Economics & Finance · November 12, 2021 · 5 min readTether and Bitcoin Ponzi Ecosystem Stage 1: UPAs Tether corporation continues to obfuscate the identity of the companies whose commercial paper constitutes the majority of its $75 billion in reserves, yesterday the increasingly excellent…
- Economics & Finance · October 16, 2021 · 3 min readTether Props up Toxic Crypto CarouselThis is from the FT on Saturday 16 Oct: "The CFTC order found that Tether relied on unregulated and third-party entities to hold funds, including reserves.
- Economics & Finance · August 20, 2021 · 6 min readTrading Operations of the Binance Insurance FundThis is a continuation of my last blog about how the liquidation of so many long positions on 19 May were dealt with by the Binance insurance fund.
- Economics & Finance · July 9, 2021 · 2 min readAlmost All Bitcoin Price Transmission Comes from BinanceThis picture represents the results of a bitcoin (BTC) price discovery analysis between the highly-controversial Binance exchange and three semi-regulated crypto exchanges, Coinbase, Bitstamp and…
- Economics & Finance · July 4, 2021 · 5 min readAlmost all Bitcoin Volatility Transmission Comes from BinanceThe figure above shows the results of applying a state-of-the-art econometric model for identifying high-frequency volatility flows, to minute-level data from the largest and most important…
- Economics & Finance · June 14, 2021 · 4 min readHere’s Why Cryptocurrency Doesn’t Crash at WeekendsI’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 University of Sussex, or just other ideas found elsewhere.
- Economics & Finance · May 28, 2021 · 1 min readBitcoin Variance SwapsBitcoin variance swaps have been traded on-chain for nearly two years. Here is the smart contract code for doing so. However, these products are incredibly risky.
- Economics & Finance · April 29, 2021 · 3 min readWhy Britcoin CBDC Will Take Many Years To LaunchIf 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 launching the UK's own CBDC, I have broken down the major…
- Economics & Finance · April 29, 2021 · 3 min readIs Dogecoin as Dodgy as Elon Musk?There isn't anything particularly unique about dogecoin. Like bitcoin and other so-called `payment’ coins dogecoin has no fundamental economic value.