In brief
- Multi-chain perps exchange Satori Finance is closing its doors next month.
- The firm raised $10 million from Coinbase Ventures, Jump Capital, and others in 2022.
- Satori said the extended market downturn had a significant impact on its financial situation.
Satori Finance, a decentralized perpetual futures exchange backed by Coinbase Ventures and Jump Capital, is sunsetting its platform due to financial stress amid a declining crypto market.
The firm, which raised $10 million from investors in 2022, supported perps trading on Ethereum, BNB Chain, and prominent layer-2 networks like Base and Arbitrum, among other crypto networks.
“Unfortunately, due to prolonged unfavorable market conditions, our revenue has not been sufficient to…
