Ventuals is shutting down its on-chain pre-IPO trading platform and folding its team into another project building on Hyperliquid. The wind-down ends one of the first venues that let traders take leveraged positions on the valuations of private companies like OpenAI and Anthropic.
The platform announced the closure Monday morning on its X account. Ventuals said it traded more than $650 million in volume and raised over 500,000 HYPE across its run. The announcement did not name the Hyperliquid-ecosystem project the team is joining, nor did it detail a timeline for that move beyond the market-settlement dates.
Its two flagship pre-IPO markets, OPENAI and ANTHROPIC, were frozen at their trailing 24-hour time-weighted average prices of $1,341.80 and $1,618.90, then halted for trading at 10:30 a.m. and 11:30 a.m. ET. The platform's commodity markets, including WHEAT and SOY, and its index markets, including MAG7 and SEMIS, are set to settle June 18.
Ventuals ran on Hyperliquid, the layer-one blockchain whose HIP-3 standard lets outside teams deploy their own perpetual-futures markets backed by a HYPE stake. Traders used the venue to hold synthetic, leveraged exposure to companies that have no public shares, settling positions in stablecoins rather than equity.
