Arkham Alternate, a cryptocurrency buying and selling platform constructed by information evaluation firm Arkham Intelligence, shall be shut down, in keeping with individuals concerned.
Arkham, whose backers embody OpenAI CEO Sam Altman, didn’t reply to requests for remark.
The corporate, which was based in 2020 and at the moment boasts over 3 million registered customers, has floated the concept of including a crypto derivatives change in October 2024. The plan was to compete with giants like Binance for particular person buyers.
By early 2025, Arkham Alternate added spot buying and selling of cryptocurrencies in lots of US states. Nonetheless, buying and selling volumes seem to have been a problem, regardless that the corporate added a cellular buying and selling app in December.
Binance, the biggest cryptocurrency change by buying and selling quantity, had round $9 billion in each day buying and selling quantity, in keeping with information from CoinGecko. Coinbase (COIN) got here in second place with $2 billion. Akram recorded just below $620,000 previously 24 hours.
Along with Altman, Arkham’s backers embody Draper Associates, Binance Labs, and Bedrock.
Arkham hosts its personal native crypto token ARKM, which was buying and selling at near $0.12 on the time of writing.
