Liquid MarketPlace
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Liquid MarketPlace was a Toronto-based startup founded in 2021 by CEO Ryan Bahadori, COO/CTO Amin Nikdel and YouTuber Logan Paul. It ran a fractional-ownership marketplace for rare collectibles: ERC-20 tokens served as proof of ownership so everyday investors could buy, collect, exchange and sell fractions of rare and high-value assets. The platform claimed 85,000 onboarded users and raised a $10 million Series A in April 2022.
02 / Liquid MarketPlace FAILURE REASONS
Failure factors
OSC allegations that Liquid MarketPlace was a multi-layered fraud in which principals misappropriated roughly $3M of more than $10M raised and made false statements about token ownership and collectible authentication—governance/fraud issues as alleged in the enforcement application.
OSC alleges multi-layered fraud including ~$3M misappropriation from >$10M raised and hidden payments to principals' shell companies.
OSC alleges unregistered trading, illegal distribution, and unlawful marketplace operation under Ontario securities law.
03 / EVENT HISTORY
Events in the structured record
- Liquidation
show Liquid MarketPlace Inc. (12771063) dissolved on 13 Oct 2025 under CBCA s.212 after dissolution pending for non-compliance—compulsory corporate ending.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
In June 2024 the Ontario Securities Commission launched enforcement proceedings against the company and its principals, accusing them of multi-layered fraud: misappropriating millions of dollars of investor funds raised between March 2021 and August 2022 for personal use, misrepresenting the business and violating Ontario securities law.
- 02
The OSC issued its enforcement decision in October 2026.
- 03
No investor recovery figures were disclosed.