Satori Finance Shuts Down, Citing Prolonged Market Downturn
Multi-chain perpetuals exchange Satori Finance is shutting down after July 16, 2026, citing prolonged unfavorable market conditions that made revenue insufficient to sustain operations. The platform, backed by Coinbase Ventures and Jump Capital, raised $10 million in 2022 and supported trading on Ethereum, BNB Chain, Base, and Arbitrum. It claims over 3 million customers and nearly $99 billion in lifetime trading volume. Users are urged to close positions and withdraw assets before the deadline, after which funds may be inaccessible. Satori assures that assets remain safe during the transition. The shutdown follows a trend of crypto companies closing due to Bitcoin's 48% drop from its all-time high, including Botanix, Pudgy Party, Syndicate Labs, Nifty Gateway, and ZeroLend. Cardano founder Charles Hoskinson warned of a 'wave of failures,' and major firms like Coinbase and Robinhood have also conducted layoffs.
Key facts
- Satori Finance to shut down after July 16, 2026, due to prolonged market downturn.
- Platform raised $10 million from Coinbase Ventures and Jump Capital in 2022.
- Users must close trades and withdraw assets before deadline to avoid loss.
- Over 3 million customers and $99 billion in lifetime trading volume claimed.
- Shutdown joins trend of crypto firms closing amid 48% Bitcoin price drop.