Entropy, HIP-3 Market Deployer, Raises $14M and Launches Anthropic Pre-IPO Market

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Entropy, a HIP-3 market deployer, has raised $14 million in funding led by Ribbit Capital, with $40 million in HYPE staking support. The company launched its first Anthropic pre-IPO market on Hyperliquid and is developing new trading tools, including a liquidity-weighted oracle. This comes as the crypto market shows signs of renewed activity, with traders closely monitoring the Fear & Greed Index for further signals.

ChainThink reports that on August 25, according to an official announcement, HIP-3 market deployer Entropy completed a $14 million funding round led by Ribbit Capital, alongside $40 million in HYPE staking support.

Funds will be used to build enhanced and new markets. Entropy has launched its first Anthropic pre-IPO market on Hyperliquid.

The company allows perpetual futures trading on global equities, commodities, and indices, as well as novel products such as long-dated pre-IPO equity.

The Entropy team, originating from institutions such as Citadel Securities, Optiver, Polymarket, and Millennium, is building new trading primitives, with their first innovation being a liquidity-weighted oracle that adjusts the confidence level of external oracle prices based on market-executable depth, enabling price discovery to occur directly on the order book.

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