Boon Chuan

I show a causal price impact of ~0.20% per $100M inflow, amplified by volatility—with no reversal up to 12 months. Fragmented crypto markets break classic finance intuition. Read: papers.ssrn.com/abstract=65670… @BlackRock @FarsideUK @ARKInvest @Grayscale
#Bitcoin #ETF #Crypto #Market

@angrycryptoshow @cardano_card @wirexapp @emurgo_io Is it available in Singapore?

JUST IN: #Cardano Card launches its physical Visa Debit Card, enabling users to "spend $ADA in real life, earn up to 8% back in crypto on all purchases, enjoy low foreign exchange fees, global ATM access, plus Apple Pay and Google Pay for even more flexibility."

Micro-batch clearing ≠ slower markets. It might fix fairness. papers.ssrn.com/sol3/papers.cf… #CryptoMarkets #HFT #MarketStructure cc: @a16zcrypto @SSRN

New paper: Micro-Batch Clearing in LOBs papers.ssrn.com/sol3/papers.cf… Rethinking price formation + fairness without batch auctions. #HFT #MarketMicrostructure #QuantFinance cc: @ericbudish @austin_gerig @SSRN

What if you get batch-auction fairness withoutbatch auctions? papers.ssrn.com/sol3/papers.cf… #HFT #FinTech #Trading cc: @ericbudish @NYSE @Nasdaq

🚨 Transfer window just slammed shut on PlayHNL. 62 deals. $452M spent. Diego Martin to London Orbit for $58M Fully autonomous AI league — every signing, every storyline written by Claude. Squad analysis, transfer logic, news roundup, all generated. playhnl.com/transfers.html

One person. 240 cards. 6 heroes. A TCG called Starfall Catastrophe. I designed, balanced, illustrated and shipped it from my desk in Singapore. The Nyra Elemental Flame Deck just went live on Kickstarter — would mean the world if you took a look. 🔥    kickstarter.com/projects/boonc…

High Priestess Nyra. Elemental Flame. 60 cards, 13 traps, one fire ritual deck built to punish patience. Starfall Catastrophe is live on Kickstarter — a lore-driven TCG I'm building solo from Singapore. Physical deck ships worldwide. 🔥 🔗 kickstarter.com/projects/boonc…

🚨 Transfer window just slammed shut on PlayHNL. 62 deals. $452M spent. Diego Martin to London Orbit for $58M Fully autonomous AI league — every signing, every storyline written by Claude. Squad analysis, transfer logic, news roundup, all generated. playhnl.com/transfers.html

By moving from strict FIFO to a lottery-based queue, we see a massive shift in how liquidity behaves during high-volatility shocks 📊 Results suggest a path toward reducing latency arbitrage. Read the full paper on SSRN:papers.ssrn.com/sol3/papers.cf… @databento @LarryTabb @quant_pedia

During the “Liberation Day” shock: Order books didn’t thin. They accelerated. Median order lifetime:
120ms → 32ms That’s not less liquidity —
that’s liquidity refusing to sit still. @NASDAQ @Databento @Crossref_org @ORCID_Org ssrn.com/abstract=65742…

USDe dropped to $0.65 on Binance while staying ~$0.99 on DeFi. Not a collateral failure — a self-referential oracle feedback loop. Microstructure > design. @Crossref_org @ORCID_Org @ssrn @binance @EthenaLabs ssrn.com/abstract=65742…

When the Oct 2025 crash hit, did CeFi or DeFi handle it better? My new paper on @SSRN compares @binance vs @HyperliquidX at the microstructure level — order books, liquidation cascades, and liquidity dynamics under stress. Read it here: papers.ssrn.com/sol3/papers.cf… #crypto #DeFi

Using @DatabentoHQ Level 3 data across 20 NASDAQ stocks: → Order lifetimes collapsed 73% → Volume doubled → r = −0.91 between volume surge & lifetime collapse @SSRN @Nasdaq @albertjmenkveld ssrn.com/abstract=65742…

New paper: In Oct 2025, @ethena USDe hit $0.65 on @binance while trading at $1 elsewhere. Reserves were fine. The depeg was an oracle feedback loop, not a collateral failure. cc @leptokurtic_ @ConorRyder @_RichardTeng ssrn.com/abstract=65742…

New paper: 35.6% of the "speed advantage" in limit order books is just the queue rule, not real efficiency. Dual-engine exchange, same orders, two matching rules. Validated on real NASDAQ data. cc @ebudish @albertjmenkveld @aquilotto978 ssrn.com/abstract=65742…

New paper: What did the order book look like on Liberation Day? NASDAQ Level 3 data across 20 stocks via @DatabentoHQ shows how depth, spreads, and queue dynamics broke down during the Apr 2 tariff shock. papers.ssrn.com/sol3/papers.cf…

New paper: 35.6% of the "speed advantage" in limit order books is an artifact of the matching rule, not real efficiency. Built a dual-engine exchange in Rust. Same orders, two rules. Validated on real NASDAQ data. cc @eric_budish @albertjmenkveld papers.ssrn.com/sol3/papers.cf…

In Oct 2025, USDe hit $0.65 on @binance while trading near $1 everywhere else. @ethena reserves were fully collateralized. Redemptions worked fine. So what happened? An oracle feedback loop. cc @leptokurtic_ @ConorRyder @_RichardTeng papers.ssrn.com/sol3/papers.cf…

The deeper finding: market microstructure observability isn't a data problem — it's an architecture problem. DeFi: every transaction on-chain, verifiable. CeFi: 1 snapshot/sec cap = 10-100x undercount during bursts. The true scale remains unknown. By design.