Liquid Marketplace
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anchored·JMFdJi…DD7TSummary
Liquid Marketplace (also styled Liquid MarketPlace) was a Toronto-based platform that offered fractional ownership of physical and digital collectibles through blockchain-based ERC-20 tokens, co-founded by YouTuber Logan Paul and collectors Ryan Bahadori and Amin Nikdel. In June 2024 the Ontario Securities Commission filed enforcement proceedings before Canada's Capital Markets Tribunal, alleging a multi-layered fraud in which approximately $3 million of more than $10 million raised from investors was misappropriated by the company's three principal executives through undisclosed shell companies, personal expenses, and interest-free loans that were never repaid. As of mid-2026 the merits hearing remains active and no final adjudication has been issued.
Connected Entities
1 entities · 10 linked investigations- + 3 more
Timeline(13 events)
2021
Liquid Marketplace Inc. founded in Toronto by Ryan Bahadori, Amin Nikdel, and Logan Paul. Company begins fundraising through share and promissory note sales.
BetaKit / OSC FilingDecember 2021
According to the OSC, Bahadori, Nikdel, and Domazet allegedly devise a scheme to divert investor funds to themselves through shell consulting companies each bearing the word 'Kooney' in their names.
OSC Enforcement Application / Globe and Mail3 April 2022
Liquid Marketplace platform launches publicly, offering fractional ERC-20 tokens backed by physical collectibles and NFTs. Logan Paul promotes the launch publicly.
PR Newswire / HypebeastJune 2022
Logan Paul offers fractional ownership of his PSA 10 Pikachu Illustrator Pokemon card on Liquid Marketplace; approximately 5.4% of ownership is sold, raising roughly $270,000.
TradingView / CoinTelegraphFebruary 2023
LMP Nevada, a Nevada corporation, is incorporated with Bahadori and Nikdel as officers and directors.
OSC Enforcement ApplicationSeptember 2023
A former employee publishes a review describing Liquid Marketplace as a 'borderline criminal enterprise' and a 'hype-based crypto-style rug pull.' (Tier 3, low confidence.)
Slashdot / SourceForge Software ReviewsMay 2024
Logan Paul states publicly that he repurchased all fractionalized Pikachu Illustrator token holdings from investors at original pricing and financed restoration of platform withdrawal access.
CoinTelegraph via TradingView19 June 2024
OSC files enforcement application against Liquid Marketplace Inc., Liquid Marketplace Corp., Ryan Bahadori, Amin Nikdel, and Dennis Domazet before the Capital Markets Tribunal (File No. 2024-10), alleging multi-layered fraud and misappropriation of approximately $3 million.
Capital Markets Tribunal21 June 2024
Capital Markets Tribunal announces it will hold a merits hearing regarding OSC allegations; hearing scheduled for July 31, 2024.
BetaKit / Investment Executive27 June 2024
Logan Paul files a 47-page defamation lawsuit against YouTuber Coffeezilla seeking at least $75,000 in damages, in connection with Coffeezilla's coverage of Paul's crypto activities including Liquid Marketplace.
CryptoNews / DexertoAugust 2024
Logan Paul sells the Pikachu Illustrator PSA 10 card at auction for approximately $16.5 million, setting a Guinness World Record for the most expensive trading card ever sold.
CoinDCX / CoinMarketCap19 February 2025
OSC files an amended application for enforcement proceeding against Liquid Marketplace respondents before the Capital Markets Tribunal.
Capital Markets Tribunal18 June 2026
Merits hearing continues before the Capital Markets Tribunal; June 19 hearing date is subsequently vacated. Proceedings remain active as of mid-2026 with no final adjudication issued.
OSC Bulletin June 18, 2026Decision Log
- hash: F2wE5Qhou6AfSa2DFrCM2wR7TUdRBkgEnRRcYKfUyeob
This investigation is cryptographically anchored to the Solana blockchain (1 event). 20 of 22 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 7/27/2026, 5:18:32 PM
last updated: 7/28/2026, 2:00:11 AM
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