Crypto platform Arkham Exchange to shut down

Arkham Exchange, the cryptocurrency trading platform launched by data analytics firm Arkham Intelligence, is set to close, according to a person familiar with the matter.

Arkham, whose investors include OpenAI CEO Sam Altman, did not respond to requests for comment regarding the reported shutdown, News.Az reports, citing CoinDesk.

Founded in 2020, the company has grown to more than 3 million registered users. In October 2024, it outlined plans to expand into crypto derivatives trading, aiming to compete with major exchanges such as Binance for retail market share.

By early 2025, Arkham Exchange had rolled out spot cryptocurrency trading across several U.S. states. However, trading volumes appear to have remained limited, even after the company launched a mobile trading app in December.

Data from CoinGecko shows that Binance, the world’s largest crypto exchange by trading volume, records nearly $9 billion in daily transactions, while Coinbase, the second-largest, handles about $2 billion per day. In comparison, Arkham posted just under $620,000 in trading volume over the past 24 hours.

In addition to Altman, Arkham’s backers include Draper Associates, Binance Labs and Bedrock.

The company also operates its own native cryptocurrency, ARKM, which was trading at approximately $0.12 at the time of writing.

News.Az 

By Nijat Babayev