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Research, market commentary, and analysis from the Caladan team.
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Market Analysis

The SEC Opened the Door to Tokenized Stocks. Now Comes the Hard Part: Liquidity

Bev Tan
·
Sep 23, 2026
Market Analysis

Running on Empty: the spot market thins, while perps gear up for action

Julia Zhou
·
Aug 21, 2026
Market Analysis

Why Binance.US Wants a CFTC License: When Does a Bet Become a Business?

Julia Zhou
·
Aug 3, 2026
Market Analysis

No Expiry: BitMEX Shutters, Its Best Idea Lives On

Julia Zhou
·
Jul 27, 2026
Market Analysis

Home rules: Britain and Japan rewrite crypto regulation

Julia Zhou
·
Jul 20, 2026
Market Analysis

Swift Spent Fifty Years Sending Messages About Money. Now It Is Reaching for the Money Itself

Julia Zhou
·
Jul 13, 2026
Market Analysis

The 72-Hour Window: Why Bitcoin Reprices War Faster Than Equities

Derek Lim
·
May 13, 2026
Market Analysis

Crypto's Worst Day Cost Institutions $19B. The Quiet Cost Is Bigger

Derek Lim
·
Apr 29, 2026
Market Analysis

$292M Exploit, $14B in DeFi Exits: What Allocators Can Learn From April 18

Derek Lim
·
Apr 24, 2026
Market Analysis

$12 Billion In, 93% Dead: The Real Story of Web3 Gaming

Derek Lim
·
Apr 22, 2026
Market Analysis

Bitcoin and the Hormuz Binary: Ceasefire Mechanics and the Price of Escalation

Derek Lim
·
Apr 8, 2026
Market Analysis

Private Credit Contagion and the DeFi Credit Thesis

Derek Lim
·
Apr 1, 2026