MNX Exchange Launches Pre IPO Futures for OpenAI Anthropic and DeepSeek

A fresh crypto trading platform called MNX went live Tuesday, letting investors speculate on when artificial intelligence giants like OpenAI and Anthropic might go public. Built by Manifold Markets on the MegaETH blockchain, the exchange raised $6.4 million in June in a round led by Village Global.

Dated Contracts Set MNX Apart From Rivals

Unlike perpetual futures offered by larger exchanges such as OKX and Bitget, MNX contracts carry expiration dates at the end of 2027 and charge no recurring funding fees. Prices are set purely by trading activity on the platform, not outside feeds. If a company stays private at expiry, settlement relies on public valuations from funding rounds, funds or secondary markets, with the exchange itself acting as final fallback under a published review process.

Three Times Leverage Brings Extra Risk

Traders can tap up to three times their available funds, magnifying both gains and losses. Manifold co founder Stephen Grugett argued dated contracts suit illiquid private shares better than perpetuals, which he said are easy to manipulate when based on stale prices.