Arkham Shuts Exchange After Volume Craters to $620K

Edgen Crypto

·Feb 11 2026, 11:13

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Key Takeaways

Data analytics firm Arkham Intelligence is reportedly shutting down its cryptocurrency exchange due to a failure to attract significant trading volume. The move highlights the intense competition in the digital asset exchange market and serves as a strategic retreat for the company to its core analytics business.

Arkham Intelligence is closing its crypto trading platform, Arkham Exchange, due to persistently low user activity.
The exchange recorded less than $620,000 in daily volume, a fraction of the $9 billion and $2 billion reported by market leaders Binance and Coinbase, respectively.
The closure represents a failed expansion for the firm, which is backed by prominent investors including OpenAI CEO Sam Altman and Binance Labs.

Exchange Folds With Daily Volume Under $620,000

Arkham Intelligence is shuttering its cryptocurrency trading platform, Arkham Exchange, after it failed to gain traction with users, according to a person familiar with the matter. The platform’s struggle is starkly illustrated by its trading volumes. On February 11, 2026, Arkham recorded just under $620,000 in 24-hour trading activity. This figure pales in comparison to the industry's dominant players, with Binance processing nearly $9 billion and Coinbase handling $2 billion in daily trades during the same period.

A Failed Bid to Challenge Market Giants

The decision to close the exchange marks a strategic retreat for the well-backed data analytics company. Arkham first announced its plan to launch a derivatives exchange in October 2024, aiming to compete directly with established giants for retail investors. The platform expanded to include spot crypto trading in several U.S. states by early 2025 and even launched a mobile app in December to spur adoption. Despite these efforts and support from high-profile backers like OpenAI CEO Sam Altman, Draper Associates, and Binance Labs, the exchange could not capture a meaningful market share. The company will now refocus on its primary data intelligence services, which serve over 3 million registered users. At the time of the news, Arkham's native token (ARKM) was trading near $0.12.