[CBER]

June 4–5, 2026 · New York University, New York, NY, USA

In collaboration with Columbia University's Center for Digital Finance and Technologies, Boston University's Digital Business Institute at the Questrom School of Business, Ecole Polytechnique, FinTech at Cornell – an Initiative of the SC Johnson College of Business, the FinTech Research Center at the University of Florida, the NYU Stern School of Business, and the University of Toronto Rotman School of Management's FinHub

Sponsored by the Uniswap Foundation and Native Markets

Day 1 – Thursday, June 4

Welcome and Opening Remarks12:45 – 1:00 pm

Special Session: BFT Protocols1:00 – 2:30 pm

Byzantine Consensus in the Lens of BlockchainsDahlia Malkhi, UC Santa Barbara
Hyperliquid ProtocolBrett Falk, University of Pennsylvania

Coffee Break 2:30 – 2:45 pm

Special Session: Perpetual Futures2:45 – 3:45 pm

Perpetual Futures PricingUrban Jermann, University of Pennsylvania
Microstructure of Perpetual Futures MarketsRuizhe Jia, Stanford University

Coffee Break 3:45 – 4:00 pm

Research Session: Decentralized Trading4:00 – 5:00 pm

Risk-Based Auto-Deleveraging
- Natascha Hey, Columbia University
- Steven Campbell, Columbia University
- Ciamac C. Moallemi, Columbia University
- Marcel Nutz, Columbia University
Discussant: Donghwa Shin, University of North Carolina
Price Formation in Blockchains with Discrete Clearing and Paid-Priority Queues
- Agostino Capponi, Columbia University
- Álvaro Cartea, University of Oxford
- Fayçal Drissi, University of Oxford
Discussant: Thomas Ernst, University of Maryland

Day 2 – Friday, June 5

Fireside Chat: Hyperliquid8:45 – 9:30 am

Moderators: Brett Falk, University of Pennsylvania and Joel Hasbrouck, NYU Stern

Jeff Yan, Founder of Hyperliquid (virtual)

Coffee Break 9:30 – 9:45 am

Research Session: Tokenomics9:45 – 10:45 am

Delegated Control, Agency Conflicts and Endogenous Governance Cycles in Token-Based Platforms
- Michele Fabi, Telecom Paris-CREST
- Valerie Laturnus, Durham University
- Romain Rossello, HEC Paris
Discussant: Basil Williams, Imperial College Business School
Buyback Programs for Platform Tokens
- Rodney J. Garratt, UC Santa Barbara
- Maarten R.C. van Oordt, VU Amsterdam
Discussant: Andrew Wu, University of Michigan

Coffee Break 10:45 – 11:00 am

Special Session: Stablecoins11:00 am – 12:00 pm

Economics of StablecoinsQuentin Vandeweyer, University of Chicago
Regulation of StablecoinsYesha Yadav, Vanderbilt University

Lunch Session12:00 – 1:30 pm

Building Agentic Payments InfrastructureAustin Bennett, Circle

Panel: Stablecoins and Financial Intermediation1:30 – 2:30 pm

Moderator: Andreas Park, University of Toronto
- Phil Dybvig, Washington University in St. Louis
- Campbell Harvey, Duke University

Coffee Break 2:30 – 2:45 pm

Research Session: Tokenization2:45 – 3:45 pm

Liquidity Mechanisms in DeFi: Design and Fragmentation in Illiquid Real-World Asset Markets
- Ralf Laschinger, LMU Munich
- Heiko Leonhard, University of Regensburg
- Gregor Dorfleitner, University of Regensburg
- Wolfgang Schäfers, University of Regensburg
Discussant: Katya Malinova, McMaster University
Tokenized Stocks
- Lin William Cong, Cornell University
- Wayne Landsman, University of North Carolina
- Daniel Rabetti, National University of Singapore
- Che Zhang, Tsinghua University
- Wenqi Zhao, National University of Singapore
Discussant: Alfred Lehar, University of Calgary

Coffee Break 3:45 – 4:00 pm

Fireside Chat: Tokenization4:00 – 5:00 pm

Moderator: Gerry Tsoukalas, Boston University

Joshua White, Chief Economist at Securities and Exchange Commission

Closing Remarks5:00 – 5:05 pm

6th Annual [CBER] Conference