Liquid Raises $18M Series A for Multi-Asset Trading
Liquid, a U.S.-based 24/7 multi-asset trading platform, has raised $18M in Series A funding co-led by Neo and Left Lane Capital. The platform enables leveraged trading up to 200x across crypto, stocks, FX, commodities, and prediction markets like Polymarket with non-custodial user custody and an AI-powered assistant. The capital will fuel expansion following $3B in trading volume across 40k users since its August 2025 launch.
Perp DEX Volumes Triple in 2025
Liquid's raise arrives amid explosive growth in perpetual futures decentralized exchanges (perp DEXs), where volumes tripled to $12T in 2025 per Delphi Digital. Competitors like Crypto.com have raised over $425M, while OKX secured $200M at a $25B valuation. This funding positions Liquid to capture share in a sector where perps now represent 75% of crypto trading volume, bridging crypto and traditional assets.
Traditional Hours Limit Retail Access
Retail traders face fragmented platforms tied to market hours, missing 24/7 opportunities in a global economy where crypto and tokenized assets trade continuously. High-leverage products like perpetual futures dominate, with overall perp trading volume hitting $58.5T in 2024 and projected to reach $92.9T by 2025 according to CoinGecko. Existing solutions lack unified liquidity across asset classes, leading to wider spreads and poorer execution for users chasing cross-market edges.
Unified Liquidity Powers 24/7 Execution
Liquid's platform aggregates liquidity via a unified order book for 500+ markets, including tokenized stocks, pre-IPO secondaries, and FX alongside crypto perps. Unlike crypto-focused rivals like Bybit, which emphasize derivatives with $100M+ in debt funding, Liquid offers non-custodial access and AI tools for analysis and execution. This multi-asset approach addresses the convergence of DeFi and TradFi, enabling seamless trading without asset silos.
AI Assistant Simplifies High-Leverage Plays
The AI trading assistant provides real-time insights and automated execution, targeting retail users who blend crypto degens with day traders. As Franklyn Wang, CEO noted:
"Markets don’t operate on a schedule anymore, but most trading platforms still do."
This feature differentiates Liquid in a crowded field, where platforms like Coinhako serve narrower fiat pairs with just $10M raised.
Tier-1 VCs Signal TradFi Disruption
Co-leads Neo and Left Lane bring trading expertise, with Neo backing Kalshi and Left Lane investing in M1 Finance. Participation from Haun Ventures, K5 Global, SV Angel, Anti Fund, and Sunflower Capital adds crypto pedigree, echoing backers of Coinbase. This syndicate—following a $7.6M seed led by Paradigm—validates Liquid's bet on 24/7 cross-asset perps amid U.S. CFTC tailwinds for perpetual futures.
Crypto Exchanges Market Hits $55B
The cryptocurrency exchanges market stands at $55B with over 20% CAGR per Coherent Market Insights. Perp DEXs like Hyperliquid lead with $9.57B open interest, but Liquid carves a niche in multi-asset expansion to RWAs and prediction markets. Regulatory shifts, including U.S. perpetual futures approvals, drive capital into unified platforms poised to disrupt expensive TradFi derivatives.
Ex-Quant Founder Targets Dopamine Hit
Founded by 25-year-old Harvard graduate Franklyn Wang, ex-Two Sigma quantitative trader, Liquid draws on pedigree in high-frequency strategies. Wang's background equips the team to build edges in volatile markets, appealing to investors seeking founders with proven quant chops amid AI-driven trading rises.