MNX Crypto Exchange Launches Futures for OpenAI, Anthropic Valuations

MNX, a new cryptocurrency exchange, has launched futures contracts allowing traders to speculate on the valuations of major private artificial intelligence companies, including OpenAI, Anthropic, DeepSeek and Moonshot, ahead of potential public listings.

The platform officially launched Tuesday on the MegaETH blockchain, introducing a new way for investors to gain exposure to the rapidly expanding AI industry without directly owning company shares.

Developed by former Manifold executives, MNX secured $6.4 million in funding in June through an investment round led by Village Global.

Unlike perpetual futures offered by competing crypto exchanges such as Bitget and OKX, MNX provides contracts that expire at the end of 2027. These contracts eliminate recurring funding fees, potentially offering traders a more predictable cost structure.

Village Global's Max Killberg highlighted the growing disconnect between massive AI investments and the limited financial products available to investors.

"AI is driving one of the largest investment cycles in history, despite the financial infrastructure around it remaining quite underdeveloped," Killberg said.

Manifold Markets co-founder Stephen Grugett explained that MNX's futures model addresses pricing challenges associated with private AI companies, whose shares rarely trade and often lack reliable market valuations.

According to Grugett, perpetual futures tied to outdated private-market prices can expose traders to manipulation and unpredictable funding costs.

MNX allows traders to leverage positions up to three times their available capital, increasing potential returns while also amplifying financial risks.

Contract prices are determined by trading activity on the exchange rather than external pricing feeds. If a company remains privately held when its contract expires, settlement valuations will rely on publicly available funding rounds, investment fund data or secondary-market transactions.

However, MNX may determine settlement prices independently as a last resort, subject to a published review process. This creates potential differences between contract settlements and actual private-market valuations.

The cryptocurrency exchange currently excludes U.S. customers but intends to pursue regulatory licenses for future expansion.

Beyond AI company valuations, MNX plans to introduce markets covering artificial intelligence revenue, employment, housing, computing capacity and supply chains.

The launch comes as AI infrastructure investment accelerates. According to Bitcoin Suisse's Crypto Wealth Management Report 2026, major U.S. hyperscalers are projected to spend at least $800 billion this year and more than $1 trillion in 2027, highlighting growing demand for AI-related investment opportunities.