Exclusive: Harvard grads raise $20 million for Ostium, a platform focused on a derivative popular with crypto traders

Core Insights - Ostium, a decentralized exchange founded by Harvard graduates, has successfully raised $20 million in a Series A funding round led by General Catalyst and Jump Trading's crypto arm [1][3] - The platform allows users to trade on real-world assets and cryptocurrencies through perpetual futures, which do not have a set expiration date [2][4] - The startup is valued at approximately $250 million following this funding round, having previously raised around $8 million [3] Company Overview - Ostium aims to position itself against online brokerages like Robinhood and eToro rather than competing directly with existing perpetual trading protocols [5] - The company currently employs 15 people and is part of a growing sector of decentralized exchanges focused on perpetual trading [4] Industry Context - The interest in perpetual futures has surged, particularly after the emergence of trading protocols like Hyperliquid, which has begun to challenge major crypto trading platforms [4] - The decentralized exchange market is becoming increasingly crowded, with several startups entering the space to offer similar trading options [4]