Terms of Service

01Acceptance of these terms

These Terms of Service (the “Terms”) govern your access to and use of the Ladder Trader website, research publications, market data displays, datasets, and related services (together, the “Services”). By accessing or using the Services you agree to these Terms. If you use the Services on behalf of an organization, you represent that you are authorized to bind that organization, and “you” refers to it.

If you do not agree to these Terms, do not use the Services.

02The Services

Ladder Trader provides research, analytics, and data relating to digital-asset market structure. The Services are informational and are intended for professional and institutional users.

We may modify, suspend, or discontinue any part of the Services at any time. Where a change materially reduces a paid subscription you hold, we will give reasonable notice and, where appropriate, a pro-rated refund.

03No investment advice

Nothing in the Services constitutes investment, financial, legal, tax, or accounting advice, or an offer, solicitation, or recommendation to buy, sell, or hold any asset or to pursue any strategy. Ladder Trader is not a broker-dealer, investment adviser, or exchange.

You are solely responsible for your own decisions and should consult appropriately qualified advisers. See our Risk & Data Disclosures for further information.

04Accounts and subscriptions

Access tiers are offered as Research (free), Professional, and Enterprise. Current prices are displayed on our website and are stated in US dollars, exclusive of applicable taxes.

• Monthly subscriptions are billed in advance each month.
• Yearly subscriptions are billed in advance for twelve months at the discounted rate shown at the time of purchase.
• Subscriptions renew automatically at the end of each billing period unless cancelled before the renewal date.
• You may cancel at any time; cancellation takes effect at the end of the current billing period, and fees already paid are non-refundable except where required by law or stated otherwise in these Terms.
• We may change prices for future billing periods with at least 30 days’ notice. Price changes do not affect a billing period already paid for.

You are responsible for keeping any account credentials confidential and for all activity under your account.

05Licence to data and research

Subject to these Terms and payment of applicable fees, we grant you a limited, non-exclusive, non-transferable, revocable licence to access and use the Services and any data or research delivered to you for your internal research and business purposes.

Unless your written agreement with us expressly permits it, you may not:

• redistribute, resell, sublicense, or publish our datasets or research, in whole or in substantial part;
• use the Services to build a competing data product or service;
• remove or obscure proprietary notices, attributions, or disclaimers;
• scrape, crawl, or systematically extract content beyond normal use of the website; or
• circumvent access controls, rate limits, or security measures.

Brief quotations of published research with clear attribution to Ladder Trader are permitted.

06Third-party data and services

Certain live market information displayed on the website is sourced from third parties, including the public market data interfaces of Kraken, and charting is provided using TradingView Lightweight Charts. Third-party data is provided as received, may be delayed, interrupted, or inaccurate, and is subject to the terms of its providers. We are not responsible for third-party data or services.

07Intellectual property

The Services, including research, methodologies, software, design, text, graphics, and trademarks, are owned by Ladder Trader or its licensors and are protected by intellectual property laws. Except for the licence granted above, no rights are transferred to you.

Photography and video on the website are used under licence from their respective providers.

08Acceptable use

You agree not to use the Services in violation of any applicable law or regulation, to interfere with or disrupt the Services, to attempt unauthorized access to any system, or to transmit malicious code.

09Disclaimer of warranties

The Services are provided “as is” and “as available”. To the fullest extent permitted by law, Ladder Trader disclaims all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, accuracy, completeness, timeliness, and non-infringement. We do not warrant that the Services will be uninterrupted or error-free.

10Limitation of liability

To the fullest extent permitted by law, Ladder Trader will not be liable for any indirect, incidental, special, consequential, or punitive damages, or for any loss of profits, trading losses, revenue, data, or goodwill, arising out of or relating to the Services.

Our total liability for any claim relating to the Services will not exceed the amount you paid us for the Services in the twelve months preceding the event giving rise to the claim.

11Indemnification

You agree to indemnify and hold harmless Ladder Trader from claims, losses, and expenses, including reasonable legal fees, arising from your breach of these Terms or your misuse of the Services.

12Governing law

These Terms are governed by the laws of the State of New York, without regard to its conflict-of-laws rules. The state and federal courts located in the State of New York will have exclusive jurisdiction over any dispute arising from these Terms, and you consent to their jurisdiction.

13Changes to these terms

We may update these Terms from time to time. The “Last updated” date above reflects the latest version. Material changes will be communicated through the website or by email to subscribers. Continued use of the Services after changes take effect constitutes acceptance.

Questions about these Terms may be sent to research@laddertrader.org.