Understanding a market requires two sets of knowledge.

The first is that of the practitioner:

What you know is as important as who you know. Market signals are not just price movements but cues embedded in a set of social networks and norms.

The second knowledge set is gained by advanced study of markets:

Machine learning, econometrics and coding skills are just prerequisites for understanding decades of applied research on market microstructures, behavioral economics and more.

Crypto asset markets are so new that few can lay claim to both sets of knowledge.

We are a research firm founded and staffed by PhDs. We combine our experience as formal students of markets with our founder’s years of experience in crypto markets as a CEO, partner at a San Francisco blockchain accelerator, investor, advisor, and friend to leaders in the crypto space.

Learn About Our Research Agenda

Our Team

Nicholas Adams Judge, Ph.D.


Judge Research’s founder wrote a doctoral dissertation on mathematical models created for forex markets, and has spent years in crypto markets. He is also the cofounder of RootProject, an attempt to use crypto assets to extend markets into the nonprofit sector and deepen them in the impact investment sector, and an advisor to numerous blockchain projects.

From those years of experience as a practitioner, a cohesive research agenda has emerged, and Judge Research is being built to pursue that agenda.

Dennis Zhang, Ph.D.


With 8+ years of experience in financial markets, Dennis has a strong working knowledge of cryptocurrency, FinTech, and AI, as well as model risk management, web development, and model development.

Dennis holds a PhD in Economics with a focus on quantitative modeling and analytics from Boston University. Additionally, Dennis is a certified Financial Risk Manager. Dennis speaks Mandarin and English. Most recently, Dennis worked as Senior Quantitative Analyst Vice President at State Street in Boston.

Trevor Kaplan


Trevor has been involved in cutting-edge scientific programming, data analysis and research for 20 years, and brings a diverse skillset in applied math, analytics and programming to the team. He spent over 12 years at the NASA Goddard Space Center and NOAA Mauna Loa Observatory, two of the world’s premiere research facilities, where he built real-time data processing systems for next-generation satellites and emerging, now-patented scientific instruments. His work analyzing and modeling climate change and ozone data has been published in several refereed journals. Trevor also spent two years modeling and predicting utility scale wind farm production across the US and China, and five years managing IT projects in Health Care and Finance, with an emphasis in digital payment, credit and risk analysis. Trevor earned a B.S. in Mathematics and Economics from Colgate University. He speaks Mandarin and English.

Gina Ackerman

Head of Operations

Gina was previously the Director of External Relations under Jeffrey Sachs at The Earth Institute, focused on growing and leveraging private revenue toward the achievement of the United Nations Millennium Development Goals and to support the ideation of the Global Goals.

Gina studied English Literature at the University of Washington and Mathmatical Finance at Columbia University.

Ethan Mevi

Rootshop Cofounder

Unlike most firms that offer advisory services, Judge Research offers solutions, not just advice. Judge Research was founded in conjunction with a dev shop that offers fast, powerful technical build for firms interest in blockchain and solving ESG-related issues. Building a dev shop is more than just hiring talented developers. It’s about vendor relationships, management of complex projects and workflows, and other skills that can only be mastered through decades of experience. Combined, these skills can turn what would be years of work into months.

Ethan Mevi has two decades’ experience solving technical build problems in Silicon Valley and San Francisco. Tech firms bring him on board when the problems are too difficult or specialized for their in-house teams. He has served as an interim CTO, Product Manager, and management lead at over 100 companies over the course of his career.

In addition to growing his own applicant development organization, as a Senior Executive, Ethan has had a key role in building technology companies from early start-ups into nationwide firms. Ethan has delivered mobile, Android, iOS, Web, and cloud applications utilizing various technologies for front-end, back-end, and data storage.