Claims that Arkham Exchange, an exchange developed by crypto analytics firm Arkham Intelligence, would be shut down have been denied.
Miguel Morel, founder and CEO of the company, announced that the platform will not close its doors but will move from a centralized exchange (CEX) model to a fully decentralized exchange (DEX) model.
Morel, in a statement following reports that the exchange would be shut down, said: “Arkham Exchange is transitioning from a centralized exchange to a fully decentralized exchange. The future of cryptocurrency trading is decentralized, and that’s what we’re building.”
The platform, which supports spot and futures trading, had also launched its mobile app in late 2025. However, the company’s management said the centralized exchange model had gradually become “bloated and slow to respond to user needs.”
Morel, also referring to centralized exchanges, said: “Current centralized platforms have become even more cumbersome than the traditional financial systems they promised to improve. We don’t want to invest in that.”
Arkham Exchange, which launched cryptocurrency spot trading in some US states in early 2025, has seen limited performance in terms of trading volume. Around $620,000 worth of transactions took place on the platform in the last 24 hours.
For comparison, Binance, the world’s largest cryptocurrency exchange, has a daily trading volume of around $9 billion, while second-ranked Coinbase is around $2 billion. Founded in 2020 and now boasting over 3 million registered users, Arkham’s investors include Sam Altman, Draper Associates, Binance Labs, and Bedrock.
However, the platform’s ARKM token has lost over 84% of its value over the past year and is currently trading around $0.11.
This chart shows the price decline of ARKM over the past year.
*This does not constitute investment advice.
