Talos has crossed $1 trillion in notional trading volume through the platform since inception. 🚀 This incredible milestone was made possible by the trust of our clients, collaboration of our partners and rigor of our team who built the infrastructure behind every trade. 🎙️ “The first trillion validated the foundation. We are now building for the next one.” - Anton Katz, Co-Founder and CEO (@KatzAnton) ➡️ Read more from Anton: ow.ly/myxq50ZEWS1

What happens when a tokenized bond is no longer a one-off proof of concept, but something banks need to trade, settle and service every day? In a new article from The Asian Banker, Samar Sen, Head of International Markets at Talos, explains why moving beyond digital asset pilots is bringing treasury, settlement and controls into focus for banks. A few highlights: 🔹 One platform, more assets. Banks are exploring how to offer bitcoin and tokenized assets through the same platforms clients already use for FX, gold and equities, backed by shared trading and custody infrastructure across business lines. 🔹 Instant settlement is a treasury question. Faster settlement can reduce counterparty exposure, but it requires cash and assets to be ready earlier, bringing intraday liquidity and funding into the conversation. 🔹 Markets that don’t close. Longer trading hours raise practical questions about licensing, compliance coverage, client support and who monitors risk outside conventional sessions. 🔹 A hybrid world for years to come. Samar expects tokenized instruments to keep relying on existing legal structures for the next five to seven years, letting firms enter new asset classes without disruption. ➡️ Read the article to see what banks need in place to scale digital asset services. ow.ly/rocE50ZZWCc #DigitalAssets #Tokenization

USDC and USDT supply grew to over $255B in 2025, but growth has stagnated in 2026, with neither stablecoin achieving more than 10% month-over-month supply growth this year. This week, we use lagged regression analysis to explore what drives stablecoin supply growth, from perp funding rates and crypto market returns to DeFi carry spreads, and why USDC and USDT respond to these factors differently. ➡️ Read the latest issue of State of the Network: What Drives Stablecoin Supply Growth? ow.ly/wsZ850ZZkbj Research by Henry Duschang (Cooper Duschang) [Figure: USDC and USDT supply over time. Source: Talos CM Network Data Pro]

Prediction markets are becoming an institutional business, and this week the industry meets in New York. Talos is proud to sponsor NEXTPredict on October 22–23. It's the industry’s institutional prediction markets summit, bringing together operators, funds, market makers, regulators and the infrastructure that connects them. If you'll be attending, let’s talk.  ➡️ Learn about how Talos supports institutional prediction markets: ow.ly/t2o950ZZ7jc

Multiple assets, one platform. Prediction markets are now live on Talos. Institutions can trade CFTC-regulated event contracts on @Kalshi through the Talos OEMS, alongside spot, perpetuals, futures, options and tokenized RWAs — with one connection, one algo suite, one risk view and one data feed. Live now  • Kalshi event contracts through the Talos OEMS  • The Talos algo suite (Iceberg, Pegged, TWAP and Sniper) applied to event contracts  • Event contract positions alongside the rest of your book  • Normalized market data across Kalshi and Polymarket Coming soon  • Block RFQ: negotiate size bilaterally on Talos and print the trade as a venue block  • Broker distribution: infrastructure for brokers to offer event contracts to their own customers  • Additional venues ➡️ Learn more about prediction markets for institutional trading: ow.ly/hcUi50ZYVwE #PredictionMarkets #EventContracts Availability varies by client and jurisdiction.

With the Federal Reserve’s October decision two weeks out, prediction markets have swung from expecting a second hike to pricing a hold. This week, we look at how October’s expectations compare with prior meetings, the state of DeFi lending rates across #Aave and #Morpho, and what #Ethereum’s upcoming Glamsterdam upgrade changes about block building and execution. ➡️ Read the latest issue of State of the Network: Fed Odds, DeFi Yields, and Ethereum’s Glamsterdam Upgrade: ow.ly/AyTP50ZXq54 Research by @HCDuschang and @TanayVed [Figure: DeFi lending rates around the September 17 Fed rate hike. Source: Talos CM Protocol Metrics]

Samar Sen, Talos SVP and Head of International Markets, joined Nikhil Sharma (@BlackRock), Roland Chai (@Nasdaq), Mark Attard (@Citi) and moderator Kunal Doshi (@Blockworks) to discuss “Cash & Collateral: The Next Leg Up for Tokenization” at Blockworks’s Digital Asset Summit Asia 2026 on October 7, 2026. As leading market infrastructure providers work with banks, brokers and asset managers to test end-to-end workflows for tokenized assets, here are four key takeaways for institutions: • Tokenizing an asset is only the beginning. Institutions need the infrastructure around it: liquidity, secondary markets, custody and connected workflows across trading and settlement. • Risk is 24/7. Collateral and margin should be able to keep pace. Samar highlighted the potential for greater capital efficiency through always-on collateral management. BlackRock’s Nikhil Sharma explained the opportunity to transfer yield-bearing assets directly, reducing the need to redeem them and leave cash idle in transit. • The transition will be hybrid. Traditional and on-chain systems are likely to operate alongside each other as confidence in end-to-end workflows develops. • Institutional adoption depends on investor needs and trusted infrastructure. The partnership between Talos and Nasdaq illustrates this approach: connecting Talos’s digital asset infrastructure with Nasdaq’s Calypso and Trade Surveillance platforms to help institutions integrate execution, risk, collateral management and compliance across traditional and digital asset markets. Learn more about the partnership between Nasdaq and Talos here: ow.ly/75tI50ZXm5y Read more about how the integration between Talos's order and execution management system and Blackrock's Aladdin supports institutional digital asset trading within existing workflows here: ow.ly/Koxr50ZXm5A Find out how the @The_DTCC working group brings together banks, brokers, asset managers and infrastructure providers across the industry on a ground-breaking tokenization effort: ow.ly/aYRb50ZXm5z

A trade can settle in seconds. Everything around it can’t. The SEC’s Innovation Exemption has operators racing to launch Tokenized Securities Venues. But trading is the easy part. Inventory, ownership records, custody, and exposure across tokenized and conventional markets are where the real work lives. In this latest commentary, Josh Peschko, CFA, Head of Compliance and Regulatory Strategy at Talos, explains why the hybrid period matters as much as the destination, and what institutions need to make these markets usable. ➡️ Read the article: ow.ly/IS0u50ZWO5l #Tokenization #DigitalAssets #MarketStructure

We're hiring a Head of Tokenization at Talos. We're extending our institutional trading platform from crypto assets into tokenized equities, bonds and other emerging asset classes, with front-to-back support across the trade lifecycle. We're looking for a Head of Tokenization to own that expansion: shaping the product, partnering with engineering and product to deliver it, building relationships with design partners, and taking accountability for the P&L of a new product line. You'll bring 15+ years in capital markets technology, a track record of taking products from zero to commercial launch, and hands-on experience with crypto, tokenized assets or DeFi. Interested, or know someone who should be? Apply or share below. ➡️  ow.ly/SBwy50ZWofP 📍 London / New York #Tokenization #WereHiring #Hiring #JobPosting #JobOpening

This past Saturday, a dozen Talos colleagues including our CEO and co-founder, Anton Katz @KatzAnton rode on bikes and walked over 225 miles collectively to raise awareness and funds for the Autism Science Foundation. @AutismScienceFd Talos is proud to return as a sponsor of the annual Rides FAR @wsridesfar event that brings together several financial institutions, colleagues and their families for this cause. Thanks to our riders & walkers. And special thanks and to the entire Rides FAR board and staff for a successful event. #WhyIRide

QCP Group has been helping clients navigate digital assets since 2017. In a fragmented market with no shared rulebook across venues, they work closely with Talos to access deep liquidity, hedge efficiently and offer sharper pricing to their clients. 🎙️ "Talos is a partner. Many people think about technology partners in terms of a use case. With Talos, we built the use case together." — Melvin Deng, CEO, @QCPgroup 🎙️ "Talos helps us seek out the best possible liquidity in the market, through smart order routing and the aggregation of liquidity." — Ivan Lee, Head of Trading, QCP ➡️ Watch the full story on our Insights Page: ow.ly/RWCx50ZUKyR

Beyond Spot: OKX Options Execution through Talos ⏰ Whether you're running delta-neutral strategies, options market making, or an options income program for clients, Kyle Downey (Talos) and Arkady Gavrilov (@okx) will walk through how desks are bringing OKX options into their workflow, from cross-venue execution and delta hedging to multi-leg strategies like calendars and knowing when size belongs on the order book versus OTC. 📅 Oct 14 | 11.00 AM EST ➡️ Last chance to register: ow.ly/RBKv50ZUKiZ *Options availability varies by jurisdiction and is not offered everywhere.

The median memecoin hits its all-time high in 17 days. Then it takes about a year to lose 95%. Only 3% ever make it back. Using survival analysis on 150 Solana-era memecoins, we tracked the full lifecycle from first trade to collapse. 81% fell 90% or more from their peak, and just five of 151 tokens now trade above their day-one price, including three of the five largest launched since BONK (TRUMP, PUMP, and PENGU) that are worth less today than at launch. Onchain activity tells the same story. Two-thirds of these tokens never stage a second rally, and even the "major" memecoins retain no more than 7% of their peak active addresses on Solana. ➡️ Read the latest issue of State of the Network: The Death and Life of the Average Memecoin: ow.ly/FTe650ZUYx0 By Senior Data Scientist Victor Ramirez [Figure: Memecoin Survival Curve, Launch to ATH to −95%. Source: Talos CM Market Data Pro]

The 10-year Treasury yield hit its highest level since 2007, while cooler August PCE data pulled October rate hike odds lower. 📈 #Altcoin open interest relative to market cap hit an all-time high of 5.6%, but the top 10 names carry 62% of it. 🔗 Quant (QNT) jumped 302.7% after The Clearing House selected it to power interoperability for its tokenized deposit network. 👀 All eyes turn to Friday's September jobs report heading into the October FOMC. The latest State of the Market from Talos Research Associate @TanayVed. ➡️ Read it here: ow.ly/Olcr50ZTCTP ➡️ Or subscribe on LinkedIn: ow.ly/pilA50ZTCVq

The Talos team looks forward to meeting leaders across the digital asset industry next week in Singapore. @samarsen1979 Samar Sen, Frank van Zegveld, Karan Dalwani, Rashu Jindel, Jingyi Sun, Genevieve Doo, and Sean Low will be at events throughout the week. Samar will be speaking at @Blockworks's Digital Asset Summit Asia on Oct 7. He'll be joined by Nikhil Sharma (@BlackRock), Roland Chai (@Nasdaq), Mark Attard (@Citi), and moderator Kunal Doshi (Blockworks) to discuss "Cash & Collateral: The Next Leg Up for Tokenization". Frank will be speaking at "The Corridor ASIA & EUROPE: Two Regimes, One Rail" hosted by Advantage Austria Singapore. If you'll be in Singapore for #TOKEN2049, reach out to connect at [email protected] or visit talos.com to learn more.

In this edition of Regulatory Roundup by Jon Blankfield: 🇺🇸 SEC grants 5-year exemption for tokenized equity trading after CLARITY stalls 🇪🇺 EBA and ESCB push to reopen MiCA's stablecoin reserve rules 🇪🇺 ECB launches Pontes and plans to buy tokenized securities 🇬🇧 FCA opens its crypto gateway as the perimeter keeps moving And more... ➡️ Read it here: ow.ly/YMCi50ZTaoE ➡️ Or subscribe on LinkedIn: ow.ly/3n9850ZTaqX #CryptoRegulation #CryptoCompliance #DigitalAssets

How are private banks keeping the next generation in the relationship as wealth moves onto digital rails? In a new interview with Hubbis, Samar Sen, Head of International Markets at Talos, shares his view on where institutional digital asset adoption is heading, and what it means for banks, brokerages, asset managers and wealth firms. A few highlights: 🔹 The "everything brokerage." Clients increasingly want cash, Treasuries, bonds, equities, derivatives, prediction markets and digital assets through a single provider. 🔹 Private wealth's relevance question. HNW and UHNW families want one consolidated view of their conventional and digital holdings. Younger family members already have alternatives if their bank can't deliver. 🔹 Markets that don't close. 24/7 digital markets give sophisticated investors new ways to trade and hedge outside conventional hours. 🔹 Tokenization reaching core infrastructure. Talos provided the execution and settlement infrastructure for DTCC's tokenization pilot, which used real production trades and involved 30+ participating firms. ➡️ Read the full interview to learn how institutions can meet that demand responsibly. ow.ly/Xiz750ZT3Xc #DigitalAssets #Tokenization #WealthManagement

Zcash is up 218% this year. The median meme coin is down 27%. This #altcoin rally is rewarding utility. Capital is rotating into revenue-generating protocols like #Aave, which is projected to generate $47M annually from its #Ethereum lending markets, as monetizing services becomes an increasingly important measure of protocol growth. Protocols including #Hyperliquid and #Uniswap are putting that revenue to work through buybacks that reduce outstanding token supply, with Uniswap burning over $12M of UNI since announcing its program. ➡️ Read the latest issue of State of the Network: Hot Sectors Leading Altcoin Rally ow.ly/45lW50ZSJ9k By Research Associate @HCDuschang [Figure: Meme Coins 2026 YTD Price Return. Source: Talos Coin Metrics Prices]

OKX options markets are now live through Talos. For institutions already trading spot and perpetuals across multiple venues, this changes what can be managed in a single execution workflow. Arkady Gavrilov, Senior Institutional Manager at @okx and Kyle Downey, Head of Product Strategy at Talos, discuss how institutions are trading crypto options today — where listed order books can absorb institutional size and what cross-venue execution demands of infrastructure. 📅 Wednesday, October 14 @ 11:00 am EDT/4:00 pm BST ➡️ Register: ow.ly/Sebz50ZSrIJ