ChainCatcher reported, citing an official announcement, that Satori Finance, a decentralized perpetuals exchange backed by Coinbase Ventures and Jump Capital, has decided to gradually shut down its platform. The company said the decision was made because a prolonged market downturn left its revenue unable to support continued operations.
Service termination set for July 16, 2026
According to the announcement, all Satori Finance services will officially end at 19:59 Eastern Time on July 16, 2026. The platform has urged users to close their positions and withdraw all assets before that deadline.
Satori Finance also warned that users who do not complete these actions before the service termination date may no longer be able to access their funds afterward. For users who still hold positions or assets on the platform, the announcement makes position closing, withdrawals, and account checks the main tasks before the shutdown takes effect.
Funding history and trading volume
The platform completed a $10 million funding round in 2022, with backers including Coinbase Ventures and Jump Capital. Satori Finance also recorded nearly $99 billion in cumulative historical trading volume, according to the information disclosed in the announcement.
The shutdown comes during a period in which a sharp pullback in the crypto market has affected multiple industry startups. Other companies, including Botanix and Syndicate Labs, have also announced closures recently. Satori Finance’s wind-down adds another case to this group of crypto startups ending operations during the current market downturn.