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Cryptocurrencies: Market Structure, Risks, and Opportunities


This is an indpendent online event organized by our main partner, CAIA.

Cryptocurrencies: Market Structure, Risks, and Opportunities

The digital asset market seeks an innovative solution to build a global, decentralized, and secure network that facilitates payments and other transactions. We will explore how proof-of-work , such as Bitcoin mining, and proof-of-stake protocols, such as Binance, are used to secure networks and complete transactions. Behind many of these currencies are real businesses, such as Ethereum smart contracts that facilitate borrowing and lending as well as options and futures trading. Stablecoins pegged to USD, EUR, or gold can earn yields of up to 8% with minimal volatility. Returns and volatility data will be presented, as well as evidence on how digital assets can add return to a diversified portfolio with little additional risk as well as how the extreme volatility in this space can work to investors' favor.


Keith Black, Ph.D., CAIA, CFA, FDP

Keith Black has over thirty years of financial market experience. He currently serves as Managing Director of Content Strategy for the CAIA Association. During his most recent role at Ennis Knupp + Associates, Keith advised foundations, endowments and pension funds on their asset allocation and manager selection strategies in hedge funds, commodities, and managed futures. Prior experience includes commodities derivatives trading, stock options research and CBOE floor trading, and building quantitative stock selection models for mutual funds and hedge funds. Dr. Black previously served as an assistant professor and senior lecturer at the Illinois Institute of Technology. He contributes regularly to industry and academic journals. He is the author of the book “Managing a Hedge Fund,” as well as co-author of the CAIA Level I and Level II curriculum. Dr. Black was named to the Institutional Investor magazine’s list of “Rising Stars of Hedge Funds” in 2010.


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