Pantera, Susquehanna and HashKey Back DEX SynFutures With $22M Funding

The funding round was led by Pantera Capital, and included participations from Susquehanna International Group and HashKey Capital

AccessTimeIconOct 19, 2023 at 1:00 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

SynFutures, a perpetual futures decentralized exchange (DEX), has raised a $22 million Series B led by Pantera Capital, alongside fellow crypto industry investor heavyweights.

Pantera Capital was joined by Susquehanna International Group and HashKey Capital, according to an emailed announcement on Thursday.

The substantial funding round may be a sign of better times for cryptocurrency projects looking to raise capital, with a bitcoin (BTC) halving expected in early 2024 and a potential end to the U.S. Federal Reserve’s tightening cycle offering hope of a thawing in the crypto winter.

Along with the funding announcement, SynFutures is also introducing its revamped exchange, featuring its "Oyster automated market maker" (Oyster AMM). SynFutures' intends to combine orderbook and AMM models to improve trading efficiency by concentrating liquidity in decentralized finance (DeFi.)

“The name "Oyster AMM" reflects the completely permissionless listing of futures trading pairs on SynFutures DEX, as well as the ‘pearls’ that appear on a liquidity curve with limit orders, as is the case with our model," Rachel Lin, SynFutures' co-founder and CEO, said.

Edited by Parikshit Mishra.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.