Cryptocurrency hacking and trader behavior in bitcoin futures

【Author】 Chen, Yu-Lun; Yang, J. Jimmy

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】We investigate the effect of cryptocurrency hacking on trader positions in CME bitcoin futures. Our results indicate that the occurrence of hacking and fraudulent incidents lead to more net- short positions and fewer participation ratio for leveraged funds in bitcoin futures. Additionally, U.S. dollar index, futures basis, and price efficiency also play significant roles in the trading of leveraged funds. Lastly, we find that the number of hacking incidents negatively affects dealers' net-long positions. This study provides new insights into trader behaviors in bitcoin futures and offers practical implications for bitcoin investors and regulators.

【Keywords】Bitcoin futures; Hacking incidents; Traders in financial futures (TFF); Hedge funds

【发表时间】2024 NOV

【收录时间】2024-10-14

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-市场分析