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Sponsored Artificial Intelligence: A Modern Approach, Global Edition Artificial Intelligence: A Modern Approach, Global Edition

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Lei Zhuang

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Open access Aug 2026

The Impact of Digital Currency Innovation: Risk Spillover Effects Between the Cryptocurrency and Traditional Financial Markets

The rapid expansion of the digital currency market and the growing role of stablecoins as potential intermediaries have brought its interconnectedness with traditional financial markets to the forefront of global financial research. Using daily data from 4 January 2021 to 30 September 2025, this study constructs a vari...

Lei Zhuang, Yang Liu · 0 citations

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