EDX Markets
EDX Markets is a cryptocurrency exchange for institutional investors, launched in 2022 with $76M in funding from major trading firms like Citadel and Fidelity. It has 54 employees and clears trades without holding customer assets.
The growth story
EDX Markets grew from 13 to 54 employees between 2023 and 2026, raising $76M along the way, most recently a Series C in July 2026.
About
EDX operates a non-custodial trading platform that lets institutions trade cryptocurrencies while avoiding the risks of holding digital assets. The exchange mimics traditional financial markets with features like central clearing and firm pricing, targeting hedge funds and trading firms.
Backed by Schwab, Citadel and Fidelity, EDX raised $76M in a Series C in mid-2026. Its headcount of 54 suggests steady scaling since its 2022 launch, though growth rates aren't disclosed.
Founders and leadership
Operations is the largest department with 13 staff. Leadership includes veterans from traditional finance exchanges like Cboe and CME, reflecting its institutional focus.
The EDX Markets org chart
Kai Kono (Chief Executive Officer) leads 24 mapped leaders with 9 direct reports. Click +N to expand a team; names link to the person’s public profile.
Departments, and which ones grew
Headcount by function: Operations 12 (+33% YoY), Business Development 10 (+25% YoY), Engineering 8 (+33% YoY), Legal 7 (+17% YoY), Finance 5 (+25% YoY), Information Technology 4 (0% YoY).
Talent flow
Nearly a third of analyzed staff came from crypto exchanges like Coinbase (5 hires) and Kraken (3), plus traditional market makers like Cboe (4) and CME (4). Alumni have moved to trading firms like Citadel and crypto platforms like FalconX.
Most common previous employers of EDX Markets staff: Coinbase (5), Cboe Digital (4), CME (4), Cboe Global Markets (3), Kraken (3), Wells Fargo (3). Former EDX Markets employees most often moved to DraftKings (1), Citi (1), Bains Labs (1), FalconX (1), Robinhood (1), Citadel (1).
Alumni worth knowing
Web traffic
Traffic mix: 0% direct, 0% search, 0% social, 0% paid.
Frequently asked
EDX Markets has 54 employees as of September 2026.
EDX Markets has raised $76M in total, most recently a Series C round in July 2026.
Kai Kono (Chief Executive Officer) sits at the top of EDX Markets's reporting structure, with 9 direct reports.
The most common previous employers of current EDX Markets staff are Coinbase (5 people), Cboe Digital (4 people), CME (4 people).
Former EDX Markets employees most often move to DraftKings (1), Citi (1), Bains Labs (1).
EDX Markets has about 12 people in Operations, up 33% over the past year, as of September 2026.
EDX Markets has about 10 people in Business Development, up 25% over the past year, as of September 2026.
Computed from 44 current and 10 former EDX Markets profiles, as of September 2026. Source: Crustdata.
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