Caladan

The firm takes its name from the ocean planet in Frank Herbert's Dune, the ancestral seat of House Atreides, a choice made at the 2023 rebrand from AlphaLab Capital to mark a turn from pure quoting toward a broader digital-asset operation. It was built first as the proprietary trading arm of a large crypto exchange, then spun out to stand on its own.

The founding team came out of Virtu Financial and Citadel Securities, and that pedigree shows in the range. Two-sided quoting sits alongside a systematic cross-venue arbitrage book and a DeFi yield strategy that deploys into lending protocols, AMMs, and liquid staking. Caladan also takes on on-chain infrastructure roles, running validators and managing sequencers, which puts it inside the plumbing of the networks it trades rather than only on top of them.