Satori Finance Shutting Down July 16; Coinbase-Backed Perps Exchange Cites Market Downturn

According to its official announcement on June 16, Satori Finance, a decentralized perpetual futures exchange backed by Coinbase Ventures and Jump Capital, is winding down operations after July 16 at 7:59 p.m. ET. The firm raised $10 million from investors in 2022 and operated perps trading across Ethereum, BNB Chain, Base, Arbitrum, and other networks.

Satori cited prolonged unfavorable market conditions and insufficient revenue to sustain operations. The platform will remain active through July 16, with users advised to close open trades and withdraw assets. The exchange reported over 3 million customers and approximately $99 billion in total trade volumes since inception.