We examine the flight-to-safety phenomenon from ruble (risky asset) to other safe-haven assets at onset of Russian invasion Ukraine on 24 February 2022. find evidence flight-to-safe-haven occurrences USD, yen, silver, Brent, WTI and natural gas as indicated by negative dynamic conditional correlations between these assets. Price discovery surrounding is found be dominated Brent bitcoin. Further...

This paper examines return spillovers within and between different DeFi, cryptocurrency, stock, safe-haven assets. For the period January 2019 to March 2022, we find that DeFi cryptocurrency asset markets exhibit strong within-market between-market spillovers, stock show weak connectedness, assets are minor receivers transmitters of spillover effects. The connectedness is time-varying reveals s...

Abstract Numerous turbulent events in the recent past have raised issue of an asset that could play role safe haven. Although for many years it was considered gold has a haven, increasing number works challenge such point view. The emergence cryptocurrencies after Global financial crisis opened up numerous questions, one them being whether cryptocurrencies, as (money) independent governments, c...