Tom J. Espel
Arbitrage-free pricing on blockchains with the "Validator Account"
Staking rewards are protocol-guaranteed and deterministic. We introduce the first formal risk-free rate framework for blockchain assets.
European Stocks Rally
A variety of market dynamics are shaping the financial landscape, from cryptocurrency recoveries following legal victories to consumer good price pressures from tariffs.
Tariff Pause
US tariffs on Canada and Mexico are paused for thirty days.
DeepSeek
The AI trade is challenged by a Chinese startup.
Using LLMs to quantify the Fed's Beige Book
Eight times a year, the Federal Reserve publishes a qualitative report that influences trillion-dollar decisions. Can we use LLMs to process it faster?