TLDR
- MNX, a new crypto exchange, launched futures tied to OpenAI, Anthropic, DeepSeek and Moonshot.
- Contracts expire at the end of 2027 and carry no recurring funding fees.
- Traders can use up to three times their funds, and prices come from trading on MNX.
- OKX and Bitget already offer similar contracts, but with different structures.
- MNX does not serve U.S. customers yet but plans to get licenses.
A new crypto exchange called MNX has launched futures contracts tied to private artificial intelligence companies. The platform went live on Tuesday.
Trade markets once reserved for insiders:
OpenAI, Anthropic, DeepSeek, & Moonshot IPO futures
Equities from $AMZN to $ZAI
Compute perps on H100 prices
Prediction markets on lab revenue, SF home prices, P vs. NP, and moreFully non-custodial on @megaeth. pic.twitter.com/DaR32IUmME
— MNX (@MNX_fi) October 13, 2026
The contracts cover OpenAI, Anthropic, DeepSeek and Moonshot. Traders can bet on the value of these firms without owning shares.
MNX was developed by former Manifold executives. It is built on the MegaETH blockchain.
The exchange raised $6.4 million from investors in June. Village Global led the round.
How the Contracts Work
MNX contracts expire at the end of 2027. They do not charge recurring funding fees.
Prices are set by trading activity on MNX rather than an outside price feed. Traders can use up to three times their available funds, which raises both possible profits and losses.
If a company is still private when a contract expires, MNX uses public valuations. These come from funding rounds, investment funds or secondary markets. As a last resort, the exchange can set the price itself, subject to a published review process.
This means traders could settle at a price different from what investors might pay for private shares.
Competition and Comments
OKX and Bitget already offer contracts tied to private AI companies. Bitget offers perpetual futures that never expire. OKX also has contracts with no expiration date but uses a different funding method.
Max Killberg of Village Global said AI is driving one of the largest investment cycles in history. He said the financial setup around it remains underdeveloped.
Killberg said the firm sees a chance to build financial markets around AI. He said it is not just backing another prediction market.
Manifold Markets co-founder Stephen Grugett told CoinDesk the approach suits private firms. He said OpenAI and Anthropic secondary shares are illiquid and hard to price.
He said a perpetual contract based on a stale price may not behave as investors expect. He added that it can be easy to manipulate and may carry a high, unpredictable funding rate.
MNX does not currently serve U.S. customers. Grugett said the exchange plans to get the licenses it needs.
MNX also plans markets tied to the wider AI economy. These include company revenue, employment, housing, the AI supply chain and computing capacity.
Bitcoin Suisse’s Crypto Wealth Management Report 2026 says the largest U.S. hyperscalers are expected to spend at least $800 billion this year. Spending is expected to top $1 trillion next year.
Separately, Pluang’s market snapshot for Oct. 13 showed 12 of 50 major cryptocurrencies rose while 37 fell. SXP dropped 46.27%, while BAT rose 19.14% and BAL gained 11.14%.
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