Talos

Talos empowers institutions to trade digital assets.

[Talos @talostrading]

Talos has closed a $45M Series B extension, bringing our total Series B funding to $150M.
➡️ Read more: https://t.co/P8U0LRL7dk

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

[Talos @talostrading]

SpaceX is set to debut on Nasdaq tomorrow, the largest IPO in history at a $135 IPO price with a $1.77T target valuation. Crypto derivatives markets have been pricing it for weeks. What does the market think @SpaceX is worth?

We built a dashboard to track pre-IPO perp market data in real time, including pricing, liquidity and open interest.

Check it out to here see what the market is reflecting ➡️ https://t.co/01zEaOSXat

[Talos @talostrading]

Talos has been named EMS Provider of the Year at the @Hedgeweek Global Digital Assets Awards 2026, one of the industry's most respected benchmarks for excellence in the digital assets space.

Congratulations to all nominees and winners.

➡️ Read more: https://t.co/hWvlup6JJG

[Talos @talostrading]

In the latest issue of State of the Network, Senior Research Analyst @TanayVed examines how pre-IPO perpetual futures work, tracing @Cerebras (CBRS) through its IPO as a case study in on-chain price discovery and gauging what @SpaceX is pricing across venues ahead of June 12th.

Alongside this issue, we have built a dashboard tracking these markets in real time: https://t.co/kiyFn3jNxp

Key Takeaways:

🔹 Pre-IPO perpetual futures create synthetic, 24/7 derivative markets for private companies like SpaceX, OpenAI and Anthropic, providing exposure to their expected valuations before they go public.

🔹 Cerebras’ (CBRS) Nasdaq debut showed @Hyperliquid’s pre-IPO perp had already priced it within 1.3% of the $350 opening price, showing that these markets can provide a credible signal for IPO pricing.

🔹 Ahead of SpaceX’s June 12th IPO, SPCX perps are trading at an aggregated VWAP of $155 across venues against a $135 IPO price, with over $215M in open interest and $2.2B in cumulative volume across Hyperliquid, Binance and other venues

➡️ Read the full issue and check out the dashboard: https://t.co/Y6OLASsAUj

[Talos @talostrading]

We're honored to be recognized by the @ProofOfTalk x @BeInCrypto Institutional 100 Awards as Best Trading Infrastructure and Best Market Intelligence & Data Platform.

These awards reflect our commitment to delivering the technology, data and insights institutions need to participate in digital assets with confidence.

Congratulations to all nominees and winners, and many thanks to Proof of Talk and BeInCrypto for this recognition.

➡️ Read more: https://t.co/02y0jLuQd5

[Talos @talostrading]

How can you be sure your digital asset risk measures stay accurate as markets evolve?

In this latest paper, Marco Marchioro, Principal of Quantitative Research at Talos, presents the backtesting framework that helps our forecasts remain calibrated.

The full series on defining the measures, building the scenarios and validating the outputs reflects Talos’s risk methodology purpose-built for digital asset markets.

➡️ Read “Backtesting Risk Measures for Digital Assets”:
https://t.co/GuIxi5LCX3

[Talos @talostrading]

Talos CEO and Co-Founder @KatzAnton Anton Katz will be speaking today, June 4, from 2:30pm - 3:00pm (GMT +7) at REDeFiNE TOMORROW 2026, the seventh annual global DeFi & Web3 virtual summit hosted by @SCB10X_OFFICIAL.

Anton will join Matthew Dorr (Principal, @generalatlantic) to discuss "Institutional Trading for Tokenized Markets: Execution, Risk Controls, and 24/7 Market Access."

Register to watch the livestream at https://t.co/PHlV1Z1MNF

Thank you to SCB 10X for the invitation.

[Talos @talostrading]

Institutional crypto lending accounts for just 6-10% of outstanding onchain loans today, but not because demand is lacking.

The Institutional Crypto Lending Report by @block_stories maps the institutional adoption of crypto lending: where the market stands today, why institutions are moving onchain, which bottlenecks still limit broader participation, and what is being built to address them. See https://t.co/sAVCb2JRAN.

💡Talos Commercial Product Director Thomas Kennedy explains in the report how Talos is building to solve a core problem: "Credit markets today are highly fragmented. We are focused on enabling credit discovery across both CeFi and DeFi — building a smart credit routing layer intended to help borrowers access the most efficient financing based on their collateral and requirements, and to provide lenders with a more unified view of their exposures across different counterparties and protocols."

More insights from Tom below.

➡️ Read the 6 key takeaways and download the full report here: https://t.co/t95GkbI0us

[Talos @talostrading]

In this edition of Regulatory Roundup by Jon Blankfield:

🇺🇸 Washington opens the perpetuals gate
🇪🇺 Brussels asks whether MiCA is fit for purpose
🇮🇳 Mumbai pilots tokenized bond markets
🇿🇦 Pretoria removes payments friction for crypto firms

➡️ Read it here: https://t.co/HeyupbSjCC

➡️ Or subscribe on LinkedIn: https://t.co/ygeNtNUWPC

#CryptoRegulation #CryptoCompliance #DigitalAssets

[Talos @talostrading]

In our latest Special Insights report, Research Associate @HCDuschang takes a closer look at @Morpho and the rise of curated lending strategies in DeFi.

The report examines how Vaults, curators and lending markets are changing the way investors access on-chain yield, and why risk management is becoming a key differentiator across protocols.

➡️ Read more: https://t.co/nWXQY7AEXx

[Talos @talostrading]

Digital assets are entering the brokerage environment, and with it comes a new set of operational, regulatory and market structure considerations for institutions.

Join Talos, @PrometheumInc and @Arete_Wealth for a discussion on the infrastructure and industry collaboration behind this milestone, and what it means for the future of institutional digital asset markets.

🗓️ June 3, 2026 | 12:30 PM ET
📍 Breaking New Ground: Crypto Assets in a Brokerage Environment

Featuring:
• Aaron Kaplan, Founder and Co-CEO, Prometheum
• Alfonse Mandese, SVP and Head of Global Revenue, Talos
• Matt Roberson, Financial Advisor, Arete Wealth
• Moderated by: Marc Nichols, Director of Business Development, Prometheum

Register: https://t.co/UDdjbXU2Rg

[Talos @talostrading]

If there is no market close in crypto, where do your daily risk scenarios come from?

Marco Marchioro, Principal of Quantitative Research at Talos, addresses this foundational question for a digital asset risk engine.

In this second paper in the series, Marco demonstrates how hourly returns can be reliably scaled to a daily equivalent, producing 24 times more data points than a traditional daily approach to improve estimation of tail events.

➡️ Read “Hourly Market Invariants for Price Simulations in Digital-Asset Markets”:
https://t.co/YLtE4VIwmo

[Talos @talostrading]

Slippage is the hidden tax of institutional trading. In crypto, it's often the difference between a strategy's expected alpha and actual performance.

The Talos Quant Execution Services team led by Eliad Hoch analyzed the full execution lifecycle of 250,000+ parent orders across 600+ assets traded through Talos during the full year 2025 — comparing Talos algo execution outcomes against arrival price as well as a full-size sweep.

A few things stood out:

📈Talos algos consistently beat a naive sweep, especially in adverse conditions where they saved 68 bps on average versus an immediate sweep.

📈Talos VWAP showed the largest average improvement vs. a sweep, saving ~38 bps.

📈Venue mix was an important savings lever for large orders. For $100K+ orders, combining exchange + dealer liquidity saved 13.5 bps on average versus exchange-only routing.

The full analysis includes breakdowns by strategy, market regimes, order sizes, maker-taker mix, and asset market cap.

➡️ Read the summary and download the full report: https://t.co/equGetKGrc

[Talos @talostrading]

The Netherlands is one of the world's oldest trading nations with one of Europe's most respected financial regulators. It's where Talos chose to establish its EMEA legal entity, serving our Dutch client base and the broader European institutional market.

Ahead of Dutch Blockchain Week, our Head of Sales for EMEA, Frank van Zegveld, joined Maurice Vollebregt, host of "Ondernemerslounge" on Dutch TV, to discuss institutional adoption and the supporting infrastructure behind the scenes.

🎙️ In this clip, Frank on Talos's role: "Banks, asset managers, and brokers that offer crypto to their clients use our technology to make that possible — firms like BlackRock and Nasdaq have integrated their systems with Talos."

➡️ Watch the full interview: https://t.co/DvGDx0Qm96

[Talos @talostrading]

In the latest issue of State of the Network, Senior Research Associate @TanayVed dives into the microstructure of @Aave’s core lending markets, and how liquidity reacted in real-time during the KelpDAO exploit.

Key Takeaways:

🔹 The KelpDAO exploit stress-tested Aave’s lending markets, revealing how collateral risk can propagate across shared liquidity pools.

🔹 Within hours, WETH borrow rates tripled and stablecoin supply yields spiked to over 10%, capturing a rapid shift in liquidity conditions in real time.

🔹 Aave Horizon is extending onchain lending beyond crypto-native collateral, enabling stablecoin borrowing against tokenized RWA collateral from issuers like Superstate, VanEck, and Ripple.

➡️ Read the full issue: https://t.co/qZSdFnIJYw

[Talos @talostrading]

Talos has integrated with @Hyperliquid, giving select institutional clients access to on-chain liquidity, alongside their existing centralized venue activity through a single workflow.

Hyperliquid users can now access spot and perpetual futures markets, including HIP-3 builder-deployed perpetuals, directly within the Talos platform.

🎙️ “Adding Hyperliquid to the Talos platform removes a real barrier for firms that want on-chain exposure without building and maintaining a separate connection." —Daniel Packham, VP and Head of Provider Network at Talos.

➡️ Read the announcement: https://t.co/wu9amZbPco

[Talos @talostrading]

Institutional risk management frameworks designed for traditional markets cannot be readily applied to digital assets.

Talos Quantitative Researcher Marco Marchioro, lays out some of the quantitative foundations of the Talos risk engine in a series of papers.

In this first paper, Marco explains how we can measure both downside risk and upside potential within a single, unified framework; and why a scenario-weighted approach is the right foundation for digital asset portfolios.

➡️ Read “Finite-Sample Distortion Measures: Unified Risk and Gain via Scenario Weights”: https://t.co/SEuUVA2lfv

[Talos @talostrading]

@samarsen1979 Samar Sen (SVP, Head of International Markets) will be speaking at the @thecryptovalley’s Crypto Valley Conference (CVC) next week on Thursday, May 28.

Samar will join a panel discussion with Jonathan Mathai (G-20), Fred Volpe (@binance), Hina Sattar (@TPICAPGroup), and moderator @marcb_xyz Marc Baumann (@fiftyonexyz) on “The New Market Structure: Liquidity, Execution, and Capital in Digital Assets” at 3:40pm.

Christian Bock (Sales Director) and @EmiMoonsoon Emi Lorincz (Business Development Director and CVA Vice President) will lead a workshop on “Execution, Liquidity and Market Access in Institutional Crypto Trading” from 10:40–11:20 am.

To attend, please register here: https://t.co/9stNpB8h4j

Emi will also host a fireside chat with @adam3us Dr. Adam Back (@Blockstream and @bstrco) on “Building Secure Financial Infrastructure on Bitcoin” at 2:20pm.

Talos is proud to support the Crypto Valley Conference as well as the Crypto Valley Association’s mission to build a robust, interconnected ecosystem and connect Switzerland’s digital asset industry to a global network.

Reach out to connect or visit https://t.co/kdSb05tWW7 to learn more about how Talos empowers institutions to trade, manage, and access digital assets.