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Ethereum Perps DEX Lighter Raises $68M at $1.5B Valuation

The fast-rising trading protocol has captured the attention of Peter Thiel's Founders Fund and VC heavyweight Ribbit Capital.
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Nov 11, 2025 • 1 min read

Ethereum-based trading protocol Lighter has secured $68 million in new funding at a $1.5 billion valuation, The Block reports.

What’s the Scoop?

  • Heavyweight backers: The round was co-led by Founders Fund and Ribbit Capital, with participation from Haun Ventures and Robinhood, a report in Fortune notes.
  • Dual design: Lighter operates as both a Layer 2 network and a decentralized exchange, supporting perpetual futures that allow traders to go long or short without expiration.
  • Performance play: By combining onchain verification with a high-throughput matching engine, the protocol aims to match CEX-level performance while maintaining full decentralization. Its native L2 minimizes gas fees and enables instant, auditable settlements.

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