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Market Update - April 17th, 2025
This week in crypto was notably quieter than last as markets continue to digest tariff and macro updates. Liquidity conditions in the order books improved across exchanges, and without major headline catalysts, activity levels returned to a more measured, tactical rhythm.

Flowdesk finalizes $102m equity financing round with extension from HV Capital and debt from BlackRock-managed funds to accelerate global expansion
Flowdesk, a full-service digital asset trading and technology firm, today announced the close of its $102m financing round, including further equity support from existing shareholders and HV Capital as well as debt from funds and accounts managed by BlackRock.

Crypto Market Making: Retainer vs. Loan / Call Model
Explore the role of market makers in the crypto world and discover key models to ensure token liquidity and price stability. This guide helps token issuers evaluate strategies and ask the right questions to make informed market-making decisions.

Flowdesk Raises $50m Series B, led by Cathay Innovation
Primary focuses will be investing in strategic hires, broadening their over-the-counter (OTC) offering and Market-Making services, securing regulatory licenses in Singapore and the US, and expanding into key financial hubs.

Flowdesk Provides Market Making of Societe Generale - FORGE’s Euro Stablecoin EURCV
Flowdesk, a leading digital asset market maker, will provide liquidity for EUR and USDT pairs for the first euro stablecoin deployed on a public blockchain by Societe Generale - FORGE, a fully integrated and regulated subsidiary of a European bank.

Decentralized Exchanges Meet Centralized Models
In a CLOB, all orders are pooled together and matched based on price and time priority. This model is the standard in traditional financial exchanges and many centralized crypto exchanges. Traditionally, DEXs have utilized different models for trading. Now, we're seeing a trend where some DEXs are adopting the CLOB model. This is the Rise of CLOB-like models in crypto trading.

How Projects Can Select the Right Market-Making Model
Besides their incentive structures, the key difference between the two models is the working capital requirements, the funds needed to start market making. Ultimately, the choice is all about capital efficiency.

















