FalconX, Joshua Lim | Opening Access to Private and Fragmented Markets

Show Notes

On this Market Cap episode, Joshua Lim, Global Co-Head of Markets at FalconX, joins our Director of Institutional Partnerships, Stefano Sanabria.

Joshua explains how crypto’s investor base has shifted toward professional asset managers, increasing demand for options and other limited-loss structures while moving Bitcoin ownership toward ETFs, digital asset treasuries, and managed accounts.

We also examine how crypto-native market structure is expanding into equities, commodities and prediction markets, while traditional finance adopts 24/7 markets, perpetuals and tokenized collateral.

Chapters
03:56 Capital Rotates From Crypto Into AI
09:41 ETF Options Overtake Crypto-Native Venues
12:19 The Changing Guard of Crypto Investors
18:03 Why 24/7 Markets Change Risk Management
19:47 Crypto Perps Open Access to Global Equities
22:11 Prediction Markets Are Really Risk Transfer
25:08 Turning Private Risk Into Tradable Markets
29:13 Regulation Creates Trade-Offs for Market Access
32:07 Access Is Really a Network Problem
39:28 Crypto and TradFi Are Converging Both Ways
43:34 Why Most Altcoins Still Lack Long-Term Value
50:31 FalconX’s New Synthetic Linear Instruments
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On Market Cap we speak with firms and individuals to explore the thinking that guides them, the patterns they observe, and other forces moving the markets.

🎥 Watch the video version: https://x.com/AleaResearch/status/2092980530199269564

What is Market Cap?

Market Cap is the show for serious capital in crypto. Stefano hosts allocators, market makers, and institutional operators to unpack the flows, structures, and mechanics shaping the asset class. Conversations focus on market structure, liquidity, the bridge between TradFi and crypto, and the questions allocators are actually asking. Built for professionals who treat crypto as a market, not a meme.