Kappa Lab

This account is verified because it's an official organization on X. Learn more

@KappaLab_io

Boutique market maker | Only intended for institutional investors, not retail investors in the UK, US or UAE | Disclaimer: kappalab.io/regulatory-not…

London, United Kingdom kappalab.io Joined October 2021

200 Following 741 Followers 612 Posts

Latest posts 5

Pinned post

Kappa Lab @KappaLab_io Jan 30

2025 marked a pivotal year in Kappa Lab’s operations and performance. We’re proud to have supported some of the industry’s most ambitious protocols and builders.

We expanded to Dubai, added 4 new business verticals, 13 new partnerships, 18 new exchange integrations, and sustained $15B in monthly trading volume. Together, these milestones reflect a broader trend: institutional-grade crypto infrastructure is scaling rapidly.

Now in 2026, we’re building on this momentum with new initiatives already underway. Stay tuned.

0:18

Kappa Lab @KappaLab_io 14h

Going to Digital Asset Summit 2026 in London? Let's talk.

Our Founder & CEO @anis_akl is there Nov 10–11.

Kappa Lab has been a digital asset market maker since 2018: $15B+ monthly volume across 1,500+ markets, 50+ exchanges, and 10+ blockchain ecosystems.

→ Exchanges: 24/7 deep liquidity across CeFi and DeFi.
→ Vaults: strategy management, HLP-style vaults.
→ Token issuers: strong liquidity and smooth price discovery, from launch to scale.
→ Foundations and treasuries: KLIP, a dedicated yield strategy for your treasury's assets. Fully transparent, custody preserving, and redeemable at any time.

Whether you’re building, investing, or scaling on-chain, we’d love to connect and explore how Kappa Lab can support your journey.

📆 Book a meeting: calendly.com/anis-akl/30min

Kappa Lab @KappaLab_io 3d

Our CEO on who should own compliance on an on-chain market, and why it matters.👇

Anis Akl Verified account @anis_akl 3d

Who should own compliance on an on-chain market?

Two people who run very different markets gave opposite answers on the same podcast last month.

On @Bloomberg's Odd Lots on 15 October, @HyperliquidX co-founder and CEO Jeff Yan ( @chameleon_jeff ) said: "The regulation sits at the layer where there are controls, and indeed the deployers are the ones that exercise these controls."

A few days later, on the same show, @CMEGroup CEO Terry Duffy pushed back: "You have an obligation to make certain that you're policing these markets as an institution, not just as the user."

Some notes:

- Yan's model: firms that deploy markets on Hyperliquid under HIP-3 define the contracts and supply the oracle prices. They inherit the chain's order book and clearing. He compared the chain to internet protocols, which carry financial apps without being regulated as those apps.

- A version of this is already taking shape. On 26 October, @HyperliquidX named @krakenfx's parent, Payward, as its intended first CFTC-regulated deployer, under a new HIP-3* setup. Payward's regulated exchange would run the markets, and only onboarded US accounts on an allowlist could trade. It still needs regulatory approval.

- Duffy's objections: no KYC, high leverage, and automatic liquidations that can cascade.

- Today, Hyperliquid's terms bar US persons from its interface. Yan was blunt about workarounds: an American using a VPN is breaking the terms of service.

Both are right about something. Duffy is right that someone has to know the client, watch the market and own the outcome when liquidations run. Yan is right that the someone doesn't have to be the base layer.

My read: put the duties on the firms creating markets, and keep the protocol neutral. That's broadly how finance already works. Brokers, exchanges and clearing members carry the obligations. The wires underneath don't.

The catch is that the operator layer has to be real. If "deployer" means a small team with no surveillance and no default process, Duffy's point stands.

For market makers, this isn't abstract. We quote the same assets across venues with very different rulebooks. Clear lines on who checks the client, who monitors the market and who handles a default make it easier to commit size, and size is what makes a market worth trading.

Our job at @KappaLab_io doesn't change. Bring liquidity wherever those lines are clear.

Curious where people building venues land on this. Protocol, or the firms on top?

View quoted post on X

Kappa Lab @KappaLab_io 4d

Industry Catch-Up | November 4, 2026
$BTC at ~$80K. $ETH at ~$2.4K.

1) @binance published findings on its ~$6.3B October 29 hack. It said attackers used fake job interviews on LinkedIn and a tampered software download to take over several company wallets. The FBI attributed the theft to North Korea's TraderTraitor group. Binance said it has replaced 98% of stolen funds, and withdrawals resumed in phases on November 1.

2) @Kalshi said its 2026 midterm markets passed $2.5B in volume, including election night. Democrats won both chambers. From January, Democrats will lead the committees that handle market-structure bills. That includes any revived CLARITY Act, which stalled after a failed 49-50 Senate vote on September 15.

3) NYSE owner @ICE_Markets plans to bring @HyperliquidX-based perps to the US with @tradexyz. ICE also made a strategic investment in the firm. trade[XYZ] builds the markets on Hyperliquid's HIP-3 framework, and ICE would run the exchange and clearing. The plan needs regulatory approval, and no launch date is set.

4) @CFTC Chair Mike Selig said single-stock perps are deemed approved as security futures. Kalshi listed contracts the same day on Amgen, Costco, McDonald's and Qualcomm. A group backed by Cboe, Citadel Securities and the Healthy Markets Association has sued to block them.

US Spot ETF Flows (Oct 29 to Nov 3):

🔴 $BTC: -$1.14B
🔴 $ETH: -$486.48M
🔴 $SOL: -$38.43M
🟢 $XRP: +$7.40M
🟢 $ZEC: +$3.03M
🟢 $HYPE: +$1.45M

- On Nov 3, IBIT led BTC fund outflows at -$94.98M and Grayscale's BTC Mini Trust posted -$52.60M, while BITB took in +$21.92M. ETHA led ETH outflows at -$74.44M.

- US spot HYPE ETFs have drawn $300.71M in cumulative net inflows since debut. ZCSH, the only US spot ZEC ETF, has drawn $214.30M.

- Spot BTC ETFs hold $99.16B in net assets, 6.33% of BTC market cap. ETH ETFs hold $13.32B, 4.76% of ETH market cap.

Kappa Lab @KappaLab_io 5d

@meridiandotxyz 's MLP vault hedged across venues.
The vault acts as the exchanges main liquidity source taking the other side of user trades whilst at the same time remaining delta neutral.

Vault depositors can expect less drawdowns and exposure risk.

MLP is powered by @NeutralTrade, with strategy management from Kappa Lab and USDe deposits through @AccountableData.

Meridian @meridiandotxyz 6d

x.com/i/article/2117…
View quoted post on X