@misc{lim2026_ssrn_6760919,
  author = {Lim, Boon Chuan},
  title = {Pricing the Collapse of Proof-of-Human: Posted-Price, Equity, and Disclosure Evidence on AI-Capability Events, 2023-2025},
  year = {2026},
  doi = {10.2139/ssrn.6760919},
  url = {https://doi.org/10.2139/ssrn.6760919},
  note = {Working paper / preprint}
}