
Sushant Kumar
Sushant Kumar is co-founder and CTO of Vandergrid, where he leads the firm's trading, market surveillance and credit infrastructure.
Before Vandergrid he was CTO of a London crypto market-making firm. He joined as its first quantitative developer, built its technology from the ground up, from market-making engines and execution infrastructure to strategies and client terminals, and led engineering as the firm grew to 70 concurrent mandates.
At Vandergrid he architected the full trading stack, with engines quoting for 15+ institutional mandates across centralised exchanges, DEXs and perpetuals. He built the firm's market surveillance product, which token issuers use to check order book depth, volume quality and wash trading on the venues where their tokens trade. He also designed an issuer credit framework for tokenised assets, and is building lending against verifiable on-chain protocol revenue.
He contributes to crypto market structure policy, with public comments filed with the US SEC, the CFTC and the UK FCA on market surveillance, token disclosure and tokenised securities.
Regulator filings
Formal comments submitted in October 2026 on the rules being written for crypto markets in the US and UK. The background to each is in our write-up of the four comments.
- SEC · File No. S7-2026-27Proposed Regulation Crypto Assets
- SEC · File No. 4-927Innovation Exemption order for tokenized securities venues
- CFTC · RIN 3038-AF80 · open until 14 December 2026Advance Notice of Proposed Rulemaking on Regulation Crypto Asset Transactions and Markets
- FCA · GC26/7 · open until 18 November 2026Guidance consultation on decentralised financeThe FCA does not publish individual responses; this links to the consultation.
Articles
- CEX vs DEX Launch: Which Gives Better Liquidity?Opinion · 2026-11-06 · 8 min
- What Happens to Tokenized Stocks When the Market Is Closed?Opinion · 2026-10-30 · 6 min
- How to Tell If Your Market Maker Is Dumping Your Token LoanGuide · 2026-10-30 · 7 min
- A Loan Plus Options Deal, Priced Line by LineGuide · 2026-10-30 · 6 min
- What Should Crypto Market Rules Require? Our Comments to the SEC, CFTC and FCAOpinion · 2026-10-27 · 6 min
- What Questions Should You Ask a Market Maker Before Signing a Contract?Guide · 2026-10-22 · 9 min
- What to Do When Your Treasury Token Isn't WorkingGuide · 2026-10-21 · 11 min
- What's the Cheapest Way to Secure Liquidity for a Token Generation Event?Opinion · 2026-10-20 · 11 min
- How Do You Audit What Your Market Maker Is Actually Doing?Guide · 2026-10-19 · 9 min
- How Much Liquidity Should You Add to Your Token?Guide · 2026-10-16 · 11 min
- How Should You Price a Token Launch?Guide · 2026-10-15 · 6 min
- Should a Token Project Hold Its Treasury in Its Own Token?Guide · 2026-10-14 · 10 min
- How to Launch a Token on a DEXGuide · 2026-10-02 · 15 min
- Loan Plus Options vs Retainer Market Making: Which Deal Structure Is Better?Guide · 2026-09-29 · 12 min
- Why Token Teams Shouldn't Run on Three Disconnected SuppliersOpinion · 2026-06-16 · 7 min
- OTC Trading for Token Projects: Structures and ExecutionGuide · 2026-05-11 · 10 min
- CEX vs DEX Market Making: What Token Projects Need to KnowGuide · 2026-05-08 · 11 min
- What Does a Crypto Market Maker Do? A Guide for Token IssuersGuide · 2026-05-01 · 12 min
- Red Flags in Market Maker ProposalsOpinion · 2026-04-25 · 6 min
- The Real Cost of Fragmented LiquidityOpinion · 2026-04-22 · 5 min
- Why Most Token Launches Fail at LiquidityOpinion · 2026-04-21 · 5 min