Raees Chowdhury is the co-founder and chief funding officer of Tok-Edge, a London-based regulated DeFi hedge fund constructed round a novel cryptoasset construction known as the Redemption Token. With a profession spanning senior roles at BCG and Bain Capital, a managing companion place at Revolt Ventures — a fund sitting beneath a $10 billion AUM automobile — and deep roots in on-chain markets relationship again to the ICO period of 2016–17, Raees brings uncommon twin fluency in institutional finance and DeFi to one in all crypto’s most bold new fund constructions.
Why it’s best to hear
Tok-Edge emerged from stealth on the day of this recording, and the timing is deliberate. Raees argues that the present drawdown — with Bitcoin sitting roughly 50% off all-time highs and plenty of altcoins down 90% or extra — is exactly the second to be allocating capital to DeFi. The fund is constructed on a contrarian however rigorous thesis: that crypto is a genuinely new liquid asset class, that current token fashions are structurally flawed, and that the groups finest positioned to seize the subsequent cycle are those that can maintain TradFi infrastructure and DeFi-native considering in the identical hand.
The centrepiece of what Tok-Edge is constructing is the Redemption Token — a brand new class of cryptoasset designed to unravel what Raees calls the duality drawback that has undermined most token fashions to this point. In contrast to governance tokens, which pattern in direction of zero, or utility tokens, that are constrained to their native blockchain, the Redemption Token is permissionless and composable in DeFi whereas carrying a real outlined operate: the flexibility for fund traders to redeem underlying fund shares at web asset worth. The mannequin Raees reaches for by analogy is MicroStrategy — a construction designed first, then deployed as a product. Tok-Edge is doing the identical, with the Redemption Token because the structure and the Tok-Edge Fund as its first utility.
The fund itself is constructed to institutional customary — custodians, regulated administrators, and governance constructions you’d count on from any tier-one equities automobile — however utilized solely to crypto and DeFi methods. Raees walks via the workforce’s strategy to on-chain yield era, energetic capital allocation between methods, and why sitting in stablecoins and incomes on-chain yield is a characteristic relatively than a concession. He additionally shares his conviction that DeFi yields are removed from lifeless, why on-chain flows will determine the winners of the subsequent cycle earlier than most individuals see them coming, and the way the Berkshire Hathaway mannequin — long-only, actively managed, snug holding money — interprets surprisingly properly to liquid crypto asset administration. With a TGE capped at $21 million focusing on a $100 million first shut later in 2026, it is a dialog value listening to early.
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