Crypto Quill

Talos, the institutional-grade digital asset trading platform, announced Wednesday it has closed a $45 million extension to its Series B round, pushing the total raised in the round to $150 million just 32 months after its $105 million close in May 2022.

The new capital signals strong continued confidence from Wall Street and tech giants in Talos as the backbone for professional crypto trading at a time when institutions are pouring billions into digital assets.

The extension drew both new and returning backers, a rare show of unity in today’s cautious venture market.

Notable participants include:

• Robinhood Markets
• Sony Innovation Fund
• Andreessen Horowitz’s a16z crypto
• BNY Mellon
• Fidelity Investments
• Stripes
• Illuminate Financial
• Citadel Securities
• Wells Fargo Strategic Capital

Previous Series B lead investor General Atlantic also joined the extension, along with early supporters PayPal Ventures, Nottingham Council Pension Fund, and others.

The presence of America’s largest retail broker (Robinhood), two of the biggest traditional custodians (Fidelity and BNY Mellon), and top market makers (Citadel Securities) on the same cap table is remarkable.

What Talos Actually Does (And Why It Matters Now)

Founded in 2018 by Anton Katz and Ethan Feldman, Talos solves a problem most retail traders never see: institutions cannot just click “buy” on Coinbase when they want to move $50 million in Bitcoin.

Banks, hedge funds, and asset managers need direct market access, smart order routing across 40+ venues, real-time pricing engines, lending desks, staking integration, and full compliance tooling – all in one platform that feels like Bloomberg Terminal for crypto.

More than 100 institutions now rely on Talos, from global banks to crypto-native hedge funds. The company claims its clients traded over $2 billion daily on the platform in December 2024 alone.

That volume number matters: it means Talos already sits at the heart of professional crypto flow when spot Bitcoin ETFs from BlackRock, Fidelity, and others now hold over $100 billion in assets.

Where the $45 Million Goes

Talos says every dollar will fuel product speed.

Top priorities:

• Faster execution and deeper liquidity tools for derivatives trading
• Expanded staking and lending infrastructure
• New portfolio margin and cross-margin capabilities
• Deeper integration with traditional finance rails

CEO Anton Katz told reporters the company is “building the trading system for the institutional internet” and this capital removes any speed limits on engineering hires and new feature velocity.

Why This Round Happened Now

Two things changed since the 2022 close at $1.25 billion valuation.

First, Donald Trump won the U.S. election and promised crypto-friendly regulation. Second, spot Bitcoin and Ethereum ETFs proved institutions will allocate serious money when proper infrastructure exists.

Talos sits exactly where those two forces collide.

Fidelity and BNY Mellon do not just write checks; they are building their own crypto offerings and need best-in-class trading partners. Robinhood wants to serve institutions next after crushing retail crypto trading. Sony sees digital assets inside PlayStation and metaverse economies.

All of them chose Talos.

The extension closed at the same price as the May 2022 Series B, according to sources familiar with the deal. That means no down round despite crypto winter – a minor miracle in late 2024 venture land.

This funding arrives as competitors raise layoffs headlines. Coinbase cut staff again in January. Gemini still fights Genesis bankruptcy fallout. Talos instead grows headcount 40% in 2024 and plans another big hiring wave.

The message is clear: institutions never left crypto. They were just waiting for infrastructure that feels safe enough for billions.

Talos just proved that infrastructure has arrived – and the biggest players in finance are ready to use it.