"Lighter is both a decentralized exchange designed to not be controlled by a single entity as well as a blockchain. It allows users to trade perpetual futures, a type of derivative that lets traders speculate on future prices for cryptocurrencies. It will also soon roll out spot trading for tokens like Bitcoin, Novakovski said. On Tuesday, Lighter announced that it raised has $68 million in a new funding round."
"According to the 40-year-old Novakovski, who founded Lighter in 2022 and serves as CEO, the fundraise was led by Peter Thiels' Founders Fund and the fintech investor Ribbit Capital. Other participants included Haun Ventures and the online brokerage Robinhood, which rarely makes venture investments. The round valued Lighter at around $1.5 billion, according to two sources familiar with the deal, who asked for anonymity to discuss private business dealings. Novakovski declined to comment on Lighter's valuation but said the deal was for equity and token warrants, or allocations of a yet-to-be-released cryptocurrency."
""What we want to do is to be the infrastructure layer that verifies that everything that happens in finance happens fairly, happens correctly, happens transparently," Novakovski said in an interview."
Vladimir Novakovski founded Lighter in 2022 and serves as CEO. Lighter operates as a decentralized exchange and a blockchain, allowing trading of perpetual futures and soon spot trading for tokens such as Bitcoin. The platform aims to avoid single-entity control and provide transparent, fair verification of financial activity. Lighter raised $68 million in a funding round led by Founders Fund and Ribbit Capital, with participation from Haun Ventures and Robinhood. Two sources familiar with the deal said the round valued Lighter at around $1.5 billion. Perpetual futures are derivatives that allow traders to hold futures contracts indefinitely provided margin requirements are maintained.
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