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Arkham Intelligence reportedly closing its cryptocurrency trading platform due to lackluster usage.
Data analytics company Arkham Intel initially proposed the introduction of a crypto derivatives exchange in late 2024.
Arkham was included in CoinDesk’s Project To Watch 2023 (CoinDesk)
Key points:
- Data intelligence firm Arkham intends to close its crypto exchange platform.
- Established in 2020, Arkham now has over 3 million registered users.
- Arkham has not replied to requests for comment.
According to a source familiar with the situation, Arkham Exchange, the cryptocurrency trading platform developed by Arkham Intelligence, is set to shut down.
Arkham, which counts OpenAI CEO Sam Altman among its backers, did not respond to requests for comment.
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Founded in 2020 and currently having over 3 million registered users, Arkham had suggested the possibility of launching a crypto derivatives exchange in October 2024. The objective was to rival major players like Binance for retail investors.
By early 2025, Arkham Exchange had introduced spot crypto trading in several U.S. states. However, trading volumes appear to have posed a challenge, even after the firm launched a mobile trading application in December.
Binance, recognized as the largest crypto exchange by volume, reported nearly $9 billion in daily trading, according to CoinGecko data. Coinbase (COIN), the second-largest, reported $2 billion. In contrast, Arkham recorded just under $620,000 in the previous 24 hours.
Besides Altman, Arkham is also backed by Draper Associates, Binance Labs, and Bedrock.
Arkham has its own native cryptocurrency token, ARKM, which was valued at approximately $0.12 at the time of this writing.
