Talos

Talos has closed a $45M Series B extension, bringing our total Series B funding to $150M. ➡️ Read more: ow.ly/eWJw50Y59Y6 The extension brings strategic partners in closer alignment with Talos as we continue building the unified, front-to-back infrastructure institutions rely on as markets move to digital rails. We are grateful to our new strategic investors: Robinhood Markets @RobinhoodApp Sony Innovation Fund @Sony_Innov_Fund IMC @IMCTrading QCP @QCPgroup Karatage @Karatage As well as returning investors: @a16zcrypto, @BNYglobal and @Fidelity Investments. 🎙️“We extended our Series B round to accommodate interest from strategic partners who recognize Talos’s role in providing core institutional infrastructure for digital assets. At a time when traditional asset classes are increasingly migrating to digital rails, these partners wanted to be more closely aligned with our growth. -- @KatzAnton, CEO and Co-Founder of Talos #DigitalAssets #FinTech #Crypto #Blockchain

In the latest issue of State of the Network, Senior Research Associate @TanayVed explores how major L1s are evolving around distinct roles: Bitcoin expanding its programmability and productive utility, Ethereum consolidating as the settlement and liquidity hub for stablecoins, RWAs, and DeFi, and Solana positioning for high-frequency payments and trading. Key Takeaways: 🔹 As blockspace scales and transaction costs fall, differentiation between chains is shifting from cost to use-case specialization. 🔹 Bitcoin’s 20 millionth coin was mined in March, while a growing ecosystem of wrapped tokens and ZK rollups are beginning to unlock Bitcoin’s programmability and productive utility. 🔹 Ethereum is reinforcing its role as the on-chain liquidity and settlement hub, with L1 fees at record lows as L2s evolve from scaling solutions to specialized execution environments. 🔹 Solana is advancing its Internet Capital Markets vision through growing payments adoption and sophisticated onchain trading infrastructure, with Alpenglow targeting sub-second finality. ➡️ Read the full issue: ow.ly/kZhT50YEVFy

Talos's CTO and Co-Founder, Ethan Feldman (@ethanf) will join a @Nasdaq hosted webinar entitled "Making the Case for Tokenized Collateral". 📅 Date: Tuesday, April 7 at 10 am EST / 4 pm CEST 📝 Register: ow.ly/53HI50YBpTb The session will focus on practical applications and market implications including: 🔹 How organizations can translate findings into real‑world execution 🔹 What the latest data signals about market readiness 🔹 Why tokenized collateral is becoming a critical driver of modernization Ethan will join speakers: - Sophie Marnheir-Foy — VP Product Strategy & Head of Digital Assets Solutions Strategy, Nasdaq - Kelly Mathieson — Chief Business Development Officer, Digital Asset - Arjun Jayaram — CEO & Founder, Baton Systems - Sam Edwards — Managing Director, Head of Alpha Collateral Services, State Street

Talos is honored to be shortlisted in 12 categories across the Hedgeweek Global Digital Assets Awards and Hedgeweek European Awards. Voting closes tomorrow, April 3, 2026 (Friday) at midnight GMT. We appreciate your continued support. Thank you for your vote. The nominations recognize Talos's leadership in institutional digital asset technology for trading, portfolio management, infrastructure, data and research. Thank you @Hedgeweek for the nominations. Winners will be determined based on a combination of voting results and the quality of their submissions. Find out more here: ow.ly/r1yE50YCfs7

Samar Sen, Head of International Markets at Talos, spoke with Karry Lai at FOW about where crypto derivatives markets are heading. In APAC, the focus is shifting toward how firms access liquidity, manage risk and scale trading workflows as they move into live deployment. 🎙️ “The innovation opportunity is about improving how participants interact with the markets.” As institutions ramp up activity, priorities are converging around execution quality, capital efficiency, and more robust risk frameworks. ➡️ Read more on our Insights page: ow.ly/ZL1W50YBULe

In the latest issue of State of the Network, Senior Research Associate @TanayVed looks back at Q1 2026 to understand the market trends and themes that shaped the quarter. Key Takeaways: 🔹 Crypto markets stayed under pressure in a volatile macro and geopolitical backdrop, but improving ETF demand over the quarter helped BTC find support at current levels. 🔹 Onchain venues and tokenization pushed further into 24/7 markets for traditional assets, with equity and index perpetuals on platforms like Hyperliquid and new stock perps from major exchanges driving steady growth in open interest. 🔹 Stablecoin supply stayed steady near ~$300B while adjusted transfer volumes grew to around $21.5T in Q1, as emerging regulatory clarity around stablecoin yield and distribution continues to shape the sector. ➡️ Read the full issue: ow.ly/xI0B50YBc1a

Talos now supports @OndoFinance tokenized assets, giving institutional clients access to on-chain global markets. Clients can route orders via Talos’s existing integration with @Gate, bridging traditional markets with digital asset infrastructure. 🎙️ “Banks, brokers, and asset managers can now all trade and manage tokenized assets as easily as any other institutional asset.” – Katie Wheeler, MD Global Partnerships at Ondo Finance 🎙️ "Tokenized equities are in high demand, and integrating Ondo Global Markets is an important way in which we’re meeting that demand head-on." – Drew Forman, SVP and Head of Strategy at Talos ➡️ Read more: ow.ly/jEjg50YBcos

Selini Capital FZE has joined the Talos Provider Network, bringing independent HFT pricing and electronic liquidity to institutional clients. @SeliniOTC ➡️ Read more: ow.ly/PKoV50YyNmw “Institutions don’t just need additional liquidity, they need independent price formation, consistent execution, and a partner that can warehouse risk through market regimes.” — Matthew Grint, General Manager, @SeliniCapital FZE “Selini brings a differentiated liquidity profile to the Talos Provider Network, combining electronic depth, high-performance distribution and a strong regulatory posture.” — Daniel Packham, VP and Head of Provider Network, Talos #DigitalAssets #OTCTrading

In this edition of the Regulatory Roundup by Jon Blankfield: 🏛️ SEC and CFTC declare most crypto not securities 🇺🇸 CLARITY Act nears yield deal as politics resurface 🇬🇧 UK moves to shut down sanctions-linked “ghost” exchange 🇦🇺 Australia edges toward full crypto licensing regime ➡️ Read it here: ow.ly/w1jj50YyIay ➡️ Or subscribe on LinkedIn: linkedin.com/build-relation… #CryptoRegulation #CryptoCompliance #DigitalAssets

In the latest issue of State of the Network, Research Associate @HCDuschang breaks down how transactions move through Ethereum, who controls their ordering and where MEV comes into play. Key Takeaways: 🔹 Transactions can be affected by multiple external parties before being executed, creating opportunities known as Maximum Extractable Value (MEV). 🔹 Block building is a competitive marketplace where transaction flow and transaction ordering are critical to gain and maintain market share. 🔹 Transaction ordering is important for both traders and block builders to maximize their respective value. ➡️ Read the full issue: ow.ly/7O3h50Yy5j1

Last week, Talos's Global Head of Compliance and Regulatory Strategy, Josh Peschko, CFA joined The @DigitalChamber's DC Blockchain Summit for the panel "Running Critical Crypto Infrastructure Under Pressure." A few themes Josh brought to the conversation: 1️⃣ Infrastructure is invisible until it breaks. 2️⃣ The compliance playbook already exists. 3️⃣ Trust the industry. ➡️ Read and view highlights here: ow.ly/YQzL50YxTwy

Talos increasingly sits at the intersection of traditional capital markets and digital assets. Today, we're proud to announce we're partnering with @Nasdaq to connect Talos’s digital asset infrastructure with Nasdaq’s Calypso and Trade Surveillance platforms. ➡️ Read the announcement: ow.ly/WHq950Yx2e9 🎙️ “This partnership solves a fundamental challenge facing institutional markets: the inability to manage exposure across markets with a single risk and asset lens.” — Roland Chai, Executive Vice President, Nasdaq 🎙️ “By combining Talos’s digital asset infrastructure with Nasdaq’s Calypso and Trade Surveillance platforms, firms can connect workflows for execution, risk, collateral and compliance to reduce operational friction across both on- and off-chain asset classes.” — @KatzAnton, CEO and Co-Founder, Talos #DigitalAssets #Tokenization #TokenizedCollateral #TokenizedAssets

Execution quality is where performance can be won or lost, especially in order-book crypto markets. In this excerpt from the Talos Quant Forum, Head of Quant Execution Services Eliad Hoch breaks down the building blocks for combatting slippage. 📈 Execution alphas: systematic signals that help forecast intraday market conditions 📈 The Talos Market Impact Model: an empirically calibrated framework for estimating expected execution quality ➡️ Watch the video and read the summary: ow.ly/UZcO50YwyYi #MarketImpact #CryptoMarkets #CryptoTrading

Talos expands its RFQ platform into OTC derivatives by connecting to FalconX's electronic OTC options liquidity. Institutional clients can now request quotes for crypto options from @FalconXGlobal and access their principal liquidity through RFQ trading workflows on the Talos platform. 🎙️ “Electronic access to OTC derivatives is an important step in the evolution of institutional digital asset markets. Our integration with Talos expands how institutions connect to derivatives liquidity in crypto markets.” — @joshua_j_lim, Global Co-Head of Markets at FalconX 🎙️ “FalconX has established itself as a key liquidity provider in institutional crypto markets. Integrating their derivatives offering into Talos RFQ workflows expands the tools available to our clients as digital asset trading strategies continue to evolve.” — Daniel Packham, VP and Head of Provider Network at Talos ➡️ Read the full announcement: ow.ly/HoGL50YvZxh #CryptoDerivatives #CryptoOptions #DigitalAssets #RFQ

As the market evolves toward multi-token ETFs, the execution challenges in the create/redeem workflow become substantially more complex. In this latest article, Talos Commercial Product Manager Thomas Kennedy outlines the challenges: ⚠️ Liquidity providers must price spreads across multiple tokens simultaneously ⚠️ Illiquid constituents can quietly drive the cost of the basket ⚠️ Issuers need per-token visibility even when execution is all-or-nothing ⚠️ Settlement can involve multiple blockchains, custodians and timelines The complexity is real, but manageable with the right platform. ➡️. Read the full analysis: ow.ly/7wgY50YvBMz #MultiTokenETF #ETFs #DigitalAssets

In the latest issue of State of the Network, Senior Research Associate @TanayVed breaks down how a $50M swap lost nearly all its value, and what it reveals about executing large trades onchain. Key Takeaways: 🔹 A $50M USDT swap via Aave’s interface ended with only ~$36K of AAVE after routing across multiple DeFi venues in a single block. 🔹 The trade was ultimately routed into a SushiSwap WETH/AAVE pool with only ~$75K in liquidity, causing extreme price impact and leaving millions to surrounding MEV. 🔹 The incident shows how large orders, shallow onchain liquidity, and routing failures can lead to poor execution, highlighting the need for stronger guardrails and smarter routing in permissionless markets. ➡️ Read the full issue: ow.ly/ZTYP50YvgYI

Why is RFQ essential in institutional crypto markets? Because not every institutional trade belongs on a public order book. In our latest article, we explore: 🔹 Why RFQ is a core execution mode in traditional capital markets 🔹 Why the RFQ model is increasingly important in digital assets 🔹 How the Talos RFQ platform supports spot block and OTC derivatives trading, as well as ETF create/redeem workflows ➡️ Read the article: ow.ly/ZKg050Yun4T #OTCTrading #InstitutionalCrypto #RFQ #BlockTrading

Talos is honored to be shortlisted in 12 categories across the Hedgeweek Global Digital Assets Awards and Hedgeweek European Awards. The nominations recognize Talos's leadership in institutional digital asset technology for trading, portfolio management, infrastructure, data and research. Winners will be determined based on a combination of voting results and the quality of their submissions. Voting closes on Friday, April 3, 2026 at midnight GMT. We appreciate your continued support. Thank you for your vote. Thank you @Hedgeweek for the nominations. Find out more here: ow.ly/75ov50Ytelq