Crypto Research Is Mostly Fraud Management
Most crypto research presents itself as prediction. Price targets, narratives, catalysts, unlock calendars, chart structures, and cycle maps all compete for attention. Some of that work is useful. Much of it misses the more important job: crypto research is mostly fraud management.
Not fraud only in the narrow legal sense. Fraud as a wider research problem: bad incentives, fake activity, weak liquidity, promotional narratives, hidden leverage, opaque counterparties, and systems designed to look safer than they are.