Products FM Marketplace
Multi-dealer marketplace
FM Liquidity Match
Saas for electronic trading
FM White Label
B2B White Label Crypto Trading Platform
FM Pulse
Real-time market data analytics
FM Space
Counterparty selection
Clients Banks & brokers
Neobanks, crypto-native and FX brokers
Payment providers
PSPs, payment gateways, on/off ramp
OTC desks
Crypto trading desks, retail platforms
Buy-side
Passive funds, hedge funds, asset managers
Liquidity providers
Market makers, proprietary shops
Prime brokers
Agency and risk-principle brokers
Stablecoin issuers
Next gen of fintech
Company About Careers Media kit Resources News Insights Reports Case studies Podcasts In the media Education Glossary Referral Legal Imprint Operating rules Privacy Policy Risk Disclosure Tariff Policy Support Contact form

For Customers Log in

Crypto’s $450 Billion Lesson In Market Structure

October 20, 2025 | Finery Markets

The silver lining here is that the crash will likely accelerate a shift that was already underway, part of which is smart money moving from exchanges to over-the-counter (OTC) desks that aggregate liquidity from multiple sources, creating a buffer against a liquidity crunch on any one venue. Just in 2024, the crypto OTC market grew 106%, according to a report from Finery Markets.

See more: forbes.com