Key Highlights
- Arkham Intelligence is reportedly shutting down its crypto trading platform Arkham Exchange.
- Despite efforts to boost adoption, the platform struggled to gain meaningful trading volume.
- At press time, the company was yet to make an official confirmation.
Blockchain analytics firm Arkham Intelligence is reportedly shutting down its cryptocurrency trading platform, Arkham Exchange. The move would mark the end of an ambitious experiment to convert on-chain data users into active traders.
Arkham initially launched its crypto derivatives exchange in late 2024, aiming to compete with major players like Binance in the retail trading market.
According to a CoinDesk report, a person familiar with the matter shared that the platform’s shut down is due to it struggling to gain sufficient traction.
By early 2025, Arkham Exchange had expanded into spot crypto trading across several U.S. states. The company also rolled out a mobile trading app in December in an effort to boost adoption. Despite these efforts, trading volumes reportedly remained weak.
At the time of writing, data from CoinGecko showed Binance, the world’s largest crypto exchange by volume, recording nearly $8.9 billion in daily trading volume. Coinbase follows in the second place with more than $2 billion. In contrast, Arkham Exchange reportedly recorded less than $620,000 in trading volume over the past 24 hours.
No official confirmation yet
Arkham Intelligence had not yet issued an official statement while this report was being published regarding the reported shutdown. However, the platform’s comparatively low trading activity suggests the exchange may have struggled to establish itself in an increasingly competitive market.
Founded in 2020, Arkham is backed by prominent investors including OpenAI CEO Sam Altman and Binance Labs. The firm has over 3 million registered users. Meanwhile, Arkham’s native token, ARKM, is currently trading near $0.1137, down about 3.5% over the last 24 hours as per CoinMarketCap data.
Update:
Arkham’s CEO Miguel Morel has since issued a clarification that the exchange is not shutting down, but is rather moving from a centralized to a fully decentralized model. The platform, which launched spot trading in early 2025 and a mobile app in December 2025, had grown bloated and slow, prompting Morel’s announcement of a redesign focused on decentralization.
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