Cryptocurrency risks, fraud cases, and financial performance

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dc.contributor.authorKerr, David
dc.contributor.authorLoveland, Karen
dc.contributor.authorSmith, Katherine
dc.contributor.authorSmith, Lawrence Murphy
dc.creator.orcidhttp://orcid.org/0000-0002-1460-7052en_US
dc.creator.orcidhttps://orcid.org/0000-0001-5954-5935en_US
dc.date.accessioned2023-03-01T19:52:51Z
dc.date.available2023-03-01T19:52:51Z
dc.date.issued2023-02-23
dc.description.abstractIn this study, we examine major cryptocurrencies, present notable fraud cases, describe fraud risks, and analyze cryptocurrency financial performance. People debate whether cryptocurrency is an investment opportunity, the new Dutch Tulip Bubble, or a giant Ponzi scheme. There have been a number of high-profile fraud cases associated with cryptocurrencies, such as the FTX scandal in late 2022, thereby making fraud a real concern to current and potential future investors. Regarding financial performance, cryptocurrencies experienced a major collapse in value in the most recent period of the study, about three times worse than the major stock market indices. While in prior periods, cryptocurrencies have significantly outperformed stock market indices, recent fraud cases and the extreme volatility of cryptocurrencies indicate that investing in cryptocurrencies comes with much higher risk than traditional stock market investments. The debate over the investment potential of cryptocurrencies continues, whether they have long term value or are simply the new Dutch Tulip Bubble. The study’s findings will be useful to investors, regulators, and academic researchers regarding the cryptocurrency industry.en_US
dc.identifier.citationKerr, David S., Karen A. Loveland, Katherine Taken Smith, and Lawrence Murphy Smith. 2023. Cryptocurrency Risks, Fraud Cases, and Financial Performance. Risks 11: 51. https://doi.org/10.3390/ risks11030051en_US
dc.identifier.doihttps://doi.org/10.3390/risks11030051
dc.identifier.urihttps://hdl.handle.net/1969.6/95541
dc.language.isoen_USen_US
dc.rightsAttribution 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/*
dc.subjectcryptocurrencyen_US
dc.subjectBitcoinen_US
dc.subjectfraud risken_US
dc.subjectfinancial investmenten_US
dc.subjectPonzi schemeen_US
dc.titleCryptocurrency risks, fraud cases, and financial performanceen_US
dc.typeArticleen_US

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