Arkham Exchange, the cryptocurrency trading platform created 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 has over 3 million registered users, floated 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 cryptocurrency trading in several US states. But volumes appear to have been a challenge, even though the company added a mobile trading app in December.
Binance, the largest cryptocurrency exchange by volume, had nearly $9 billion in daily trading, according to data from CoinGecko. Coinbase (COIN), number 2, had $2 billion. Akrham recorded just under $620,000 in the last 24 hours.
In addition to Altman, Arkham backers include Draper Associates, Binance Labs, and Bedrock.
Arkham hosts its own native crypto token, ARKM, which was trading at around $0.12 at the time of writing.
