Satori Finance Shuts Down Amid Crypto Market Downturn

Satori Finance, a decentralized perpetual futures exchange backed by Coinbase Ventures and Jump Capital, is shutting down due to financial stress amid a declining crypto market.

The firm raised $10 million from investors in 2022 and supported perps trading on Ethereum, BNB Chain, and prominent layer-2 networks like Base and Arbitrum, among others.

Satori said prolonged unfavorable market conditions had a significant impact on its financial situation, making it no longer viable to sustain operations.

The platform will remain operational throughout the next month but is recommending that users close open trades and withdraw their assets.