Liquid Marketplace
Summary
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)
2021-01-01
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 Filing2021-12-01
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 Mail2022-04-03
Liquid Marketplace platform launches publicly, offering fractional ERC-20 tokens backed by physical collectibles and NFTs. Logan Paul promotes the launch publicly.
PR Newswire / Hypebeast2022-06-01
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 / CoinTelegraph2023-02-01
LMP Nevada, a Nevada corporation, is incorporated with Bahadori and Nikdel as officers and directors.
OSC Enforcement Application2023-09-01
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 Reviews2024-05-01
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 TradingView2024-06-19
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 Tribunal2024-06-21
Capital Markets Tribunal announces it will hold a merits hearing regarding OSC allegations; hearing scheduled for July 31, 2024.
BetaKit / Investment Executive2024-06-27
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 / Dexerto2024-08-01
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 / CoinMarketCap2025-02-19
OSC files an amended application for enforcement proceeding against Liquid Marketplace respondents before the Capital Markets Tribunal.
Capital Markets Tribunal2026-06-18
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
- #1publish⛓ pending7/27/2026, 5:18:42 PMhash: F2wE5Qhou6AfSa2DFrCM2wR7TUdRBkgEnRRcYKfUyeob
15 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: 7/27/2026, 8:51:00 PM
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