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⚠️ Superseded — merged into a multi-moment paper

This repository hosted "Same Returns, Different Risks" (the first-moment / returns analysis of cryptocurrency responses to infrastructure vs regulatory shocks; arXiv:2602.07046).

That work has been merged with its companion second-moment (variance) analysis into a single multi-moment paper:

Do Cryptocurrency Markets Differentiate Infrastructure from Regulatory Shocks? A Multi-Moment Event Study with Dependence-Robust Inference

The merged paper reports that markets do not statistically differentiate the two shock types at either moment once inference accounts for cross-event/cross-asset dependence and heavy tails, and corrects the companion's reliance on a variance result that did not survive dependence-robust inference.

Canonical repository (code, data, paper): 👉 https://github.com/studiofarzulla/crypto-event-study

The materials here are retained for provenance only and should not be cited.

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Same Returns, Different Risks: How Cryptocurrency Markets Process Infrastructure vs Regulatory Shocks | DAI-2507 | Dissensus AI Working Paper

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