Cube.Exchange, a hybrid crypto trading platform yet to launch publicly, has raised $12 million in a Series A funding round. 6th Man Ventures led the round, with GSR Markets, ParaFi Digital, Susquehanna Private Equity Investments, Everstake Capital and others participating, Cube said Thursday.

The new round comes just over three months after Cube raised $9 million in seed funding. Cube CEO Bartosz Lipinski, a former Solana engineer, said that the company wasn't actively seeking funding but responded to "considerable inbound interest" from investors. "We closed the entire round in under a month," Lipinski told The Block, referring to the period after Cube launched its early access mode last November.

The structure of the Series A round involved equity with token warrants, a source with …