According to an official announcement cited by ChainCatcher, Satori Finance, a decentralized perpetuals exchange backed by Coinbase Ventures and Jump Capital, has decided to gradually wind down its platform. The company said the decision was made because a prolonged market downturn left its revenue unable to support continued operations.
Services Will End on July 16, 2026
Satori Finance stated that all platform services are scheduled to officially terminate at 19:59 Eastern Time on July 16, 2026. Before that deadline, the team urged users to close their positions as soon as possible and withdraw all assets from the platform.
The announcement also warned users that, after the deadline, they may no longer be able to access their funds. For existing users, the key actions laid out by the platform are position closure and asset withdrawal before the stated service termination time.
Satori Finance had previously completed a $10 million financing round in 2022, according to the information in the announcement. The platform’s historical cumulative trading volume was close to $99 billion.
Shutdown Comes Amid Broader Industry Closures
The announcement follows a period in which several crypto industry startups have also said they would shut down operations as the crypto market experienced a sharp pullback. The companies mentioned in the source information include Botanix and Syndicate Labs.
Satori Finance’s closure adds another named project to that group. The platform’s official timeline now centers on the July 16, 2026 deadline, with users instructed to complete withdrawals and position management before services are discontinued.