Arkham Exchange Shut Down Rumors Denied as Bear Market Jitters Deepen

Arkham Exchange, the crypto trading platform launched by blockchain analytics firm Arkham Intelligence, is not shutting down despite weak activity, as per CEO Miguel Morel. The closure reports surfaced as sources said the exchange struggled to gain enough trading volume in the current market conditions. 

CEO Turns Down Arkham Exchange Shutdown Rumors 

Arkham Exchange is not shutting down, despite reports suggesting otherwise, and is instead shifting to a decentralized model. Arkham Intelligence CEO Miguel Morel said the platform is redesigning itself into a fully decentralized exchange (DEX). The move is a transition away from its previous centralized structure. 

Arkham Exchange was launched in late 2024 after Arkham Intelligence revealed plans to expand into crypto trading in October 2024. The platform aims to compete with top exchanges, including Binance, by offering products for retail traders. However, the exchange has failed to gain enough traction.

By early 2025, Arkham Exchange had expanded into spot trading across several U.S. states. Notably, the company also launched a mobile trading app in December to boost usage. Despite those additions, volumes remained low compared to larger competitors.

CoinGecko data showed Arkham Exchange posted around $702,591 in trading volume over the past 24 hours. That figure was up 33.9% on the day, but it still remained far below major exchanges.

Arkham Intelligence Founders and Operations

Arkham Intelligence, founded in 2020, has built a user base of more than 3 million registered users. The company’s backers include OpenAI CEO Sam Altman, Draper Associates, Binance Labs, and Bedrock. Arkham also operates its native token, ARKM.

Arkham’s intelligence platform is operating normally. The analytics service still tracks on-chain activity, including whale wallet movements, across multiple blockchains. For now, the company’s data business is active even as its trading operation reportedly shuts down.

Bear Market Pressure Grows as Bitcoin and Ethereum Slide

The reported shutdown comes during a broader market downturn across digital assets. As per Walter Bloomberg on X, crypto markets slipped ahead of key U.S. economic data releases, including jobs and inflation reports that could shape the Federal Reserve’s interest-rate outlook. Analysts note that uncertainty around the timing and scale of potential rate cuts is keeping volatility contained but skewed to the downside. 

Meanwhile, there is rising demand for downside protection in crypto stocks such as Coinbase and MicroStrategy. The total crypto market cap fell 1.98% to $2.29 trillion, according to CoinMarketCap data. Meanwhile, the Fear and Greed Index dropped to 9, down from 10 a day earlier.

At press time, Bitcoin was trading at $67,030, down 2% over the past 24 hours. However, Ethereum slipped deeper, trading around $1,950 after falling roughly 3% on the day. Solana also weakened, with SOL near $81 after dropping about 3% in the same period.