Research
Best Conference Paper Prize, Paris December Finance Meeting 2025. Formerly circulated as “The Price Effects of Innovative Security Design.”
The Token Capital Adequacy Framework (TCAF) — risk-based capital for stablecoin issuers.
Best Paper Award, D.C. Fintech Week 2023.
Distributed-ledger trading and settlement of FX on public blockchains.
Blockchain evidence on the use and financial-stability risks of tokenized cash.
Isolates a dollar currency premium from corporate bonds issued in dollars and euros by firms outside both blocs.
Ample reserves are key to global banks’ dollar lending in money markets.
Currency hedging links external imbalances to exchange rates, the cross-currency basis, and option skew.
Disaster probabilities extracted from option prices. Updated U.S. series: /data/spx_disaster_prob_march2021update.csv
Multi-proposer consensus with bounded transaction-inclusion guarantees, developed for Arc.
Securing blockchains, smart contracts, and digital assets for the quantum era.
Granted September 2025; assigned to Circle.
Litepaper: USDC as native gas, deterministic sub-second settlement finality, and opt-in privacy.
Fraud deterrence from transaction-graph proximity while preserving blockchain openness.