TL;DR
- tZERO closed a new funding round led by Marc and Max Cohodes, with participation from Intercontinental Exchange and other investors.
- The round will support the company’s long-term capital plan, as it advances toward a strategic transaction to achieve financial independence.
- Planned uses include expansion into tokenized derivatives, prediction markets and crypto infrastructure under CFTC licenses.
tZERO, a leader in blockchain-based financial infrastructure, announced the closing of a new funding round led by Marc and Max Cohodes, with participation from Intercontinental Exchange (NYSE: ICE), Bill Fleckenstein, the firm Dinari, Inc. and other investors.
Neighborhood Intelligence also committed its participation, though conditioned on the announcement of a binding agreement related to a strategic transaction, such as a change of control, an asset sale or a merger with a SPAC or other entity.
@tZERO has announced a new funding round led by existing investors Marc and Max Cohodes, with participation from @ICE_Markets, investor Bill Fleckenstein, partner @DinariGlobal, and others. Neighborhood Intelligence also committed to support the financing round with its portion…
— tZERO (@tZERO) September 14, 2026
tZERO: Infrastructure as a Service
The round is framed within the company’s long-term capital plan, aimed at sustaining its growth while advancing toward a strategic transaction that would allow it to achieve financial independence.
The central focus remains its infrastructure as a service (IaaS) offering for tokenized securities and other assets, which connects tokenization, trading, custody and asset management within a regulated environment, facilitating the entry of financial institutions into blockchain-based markets.
Alan Konevsky, chief executive officer of tZERO, indicated that the funding will support the company’s operations as it works to commercialize and expand its infrastructure for tokenized financial markets.
Marc Cohodes, lead investor in the round and who also participated in two previous rounds over the last eight years, highlighted that the company has never been better positioned or better managed, and expressed his confidence that tZERO will become one of the most relevant companies of the next era of financial markets.
Headed Toward Derivatives Markets and Crypto Assets
Beyond the immediate funding, the round allows tZERO to lay the groundwork to deepen its institutional relationships and expand its business into tokenized derivatives, prediction markets and crypto infrastructure under upcoming Commodity Futures Trading Commission (CFTC) licenses. These initiatives aim to strengthen its independent and diversified presence in a segment of the financial markets that combines regulation, technology and institutional demand in full growth.
