283 citations
- University College LondonGB54 papers
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- Eötvös Loránd UniversityHU4 papers
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4 papers · 1 filter
FTX's downfall and Binance's consolidation: The fragility of centralised digital finance
David Vidal-Tomás, Antonio Briola, Tomaso Aste
This paper investigates the causes of the FTX digital currency exchange's failure in November 2022. We identify the collapse of the Terra-Luna ecosystem as the pivotal event that t…
Anatomy of a Stablecoin's failure: the Terra-Luna case
Antonio Briola, David Vidal-Tomás, Yuanrong Wang +1
We quantitatively describe the main events that led to the Terra project's failure in May 2022. We first review, in a systematic way, news from heterogeneous social media sources;…
Asymmetric Network Connectedness of Fears
Jozef Barunik, Mattia Bevilacqua, Radu Tunaru
This paper introduces forward-looking measures of the network connectedness of fears in the financial system, arising due to the good and bad beliefs of market participants about u…
Systemic Losses Due to Counter Party Risk in a Stylized Banking System
Annika Birch, Tomaso Aste
We report a study of a stylized banking cascade model investigating systemic risk caused by counter party failure using liabilities and assets to define banks' balance sheet. In ou…