Arkham Exchange, the cryptocurrency trading platform built by data analytics firm Arkham Intelligence, is shutting down, according to a person familiar with the matter.
Arkham, whose backers include OpenAI CEO Sam Altman, did not respond to requests for comment.
The company, which was founded in 2020 and now boasts over 3 million registered users, shot back the idea of adding a crypto derivatives exchange in October 2024. The plan was to compete with giants like Binance for retail investors.
By early 2025, Arkham Exchange had added spot crypto trading in a number of US states. But volumes appear to have been a challenge, despite the firm adding a mobile trading app in December.
Binance, the largest crypto exchange by volume, had nearly $9 billion in daily trading, according to CoinGecko data. Coinbase (COIN), No. 2, had 2 billion. Akrham cashed in just under $620,000 in the last 24 hours.
In addition to Altman, Arkham’s backers include Draper Associates, Binance Labs and Bedrock.
Arkham hosts its own native crypto token, ARKM, which was trading at close to $0.12 at the time of writing.
