- Arkham Intelligence, the blockchain analytics firm, is reportedly shutting down its cryptocurrency exchange, Arkham Exchange.
- The platform struggled to gain traction, with its 24-hour trading volume of under $620,000 paling in comparison to giants like Binance.
- Arkham’s backers include prominent investors like OpenAI CEO Sam Altman and venture capital firms Draper Associates and Binance Labs.
The Arkham Exchange, a cryptocurrency trading platform built by analytics company Arkham Intelligence, is closing down, according to a person familiar with the matter. The exchange, which launched spot and derivatives trading for U.S. retail investors in late 2024, failed to capture significant market share.
This development comes after the company floated plans in October to compete with major exchanges. However, trading volumes on the platform remained extremely low compared to industry leaders.
Consequently, while Binance and Coinbase saw daily volumes in the billions, Arkham recorded just under $620,000 in the last 24 hours. The exchange’s native token, ARKM, was trading around $0.12 at the time of writing.
Arkham, which counts Sam Altman among its investors, did not respond to requests for comment on the closure. The firm, which has over 3 million registered users, will now focus solely on its core blockchain intelligence products.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
