Crypto's Market Making Arms Race with Rahul Jain (Ellipsis Labs)

About this episode

Austin chats with Rahul Jain about the evolution of market making in crypto and its future prospects.

In this episode, Austin chats with Rahul Jain (Head of Trading at Ellipsis Labs) to explore the evolution of market making in crypto. Rahul discusses what gives crypto market makers an edge, why being early matters, and how crypto has created new challenges around MEV, transaction landing, and execution. They explore the future prospects of prop AMMs, perps, MCP, and what it will take for on-chain finance to scale beyond crypto-native users and compete with traditional markets.

People in this episode

Host: Austin Federa

Guest: Rahul Jain

Topics covered

• crypto
• market making
• MEV
• transaction landing
• on-chain finance
• traditional markets

Keywords

• crypto market makers
• MEV
• transaction landing
• execution
• prop AMMs
• perps
• MCP

Mentioned in this episode

Organizations: Ellipsis Labs

More episodes of Validated

• Why Crypto Fails without Privacy with Mert Mumtaz (Helius) · June 12, 2026 · 44 min
• Why Privacy Tech Is Having Its Moment with Seth for Privacy (Cake Wallet) · June 2, 2026 · 43 min
• Solana Mobile's Vision Beyond Seeker with Emmett Hollyer (Solana Mobile) · May 5, 2026 · 45 min
• The Constellation Debate Part 2, with Brennan Watt (Anza) · April 10, 2026 · 1h 12m
• The Constellation Debate, Part 1 with Ben Coverston (Temporal) · April 9, 2026 · 1h 27m
• MegaETH Mainnet and the Real-Time ZK Endgame w/ Lei Yang · March 24, 2026 · 52 min