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

*Author: Bankless*
*Published: Nov 11, 2025*
*Source: https://www.bankless.com/read/news/ethereum-perps-dex-lighter-raises-68m-at-1-5b-valuation*

---

Ethereum-based trading protocol Lighter has secured $68 million in new funding at a $1.5 billion valuation, [The Block](https://www.theblock.co/post/378358/lighter-raises-68-million-1-5-billion-valuation-vc-bets-flood-perp-dex-infrastructure-report) 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](https://fortune.com/2025/11/11/lighter-fundraise-founders-fund-ribbit-capital-haun-ventures-robinhood-vladimir-novakovski/) 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.
---

*This article is brought to you by [MetaMask](https://www.bankless.com/sponsor/metamask-1776260643?ref=read/news/ethereum-perps-dex-lighter-raises-68m-at-1-5b-valuation)*