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Satori Finance to shut down, tells users to withdraw by July 16

Satori Finance to shut down, tells users to withdraw by July 16

The Polychain Capital-backed decentralized exchange said weak market conditions and inadequate revenue forced a wind-down after handling more than $134 billion in cumulative perpetual futures volume since launch.

Fact Check
The official Satori Finance X announcement directly confirms the wind-down due to insufficient revenue and the withdrawal deadline of July 16, 2026 23:59 UTC. The Block and Crypto Briefing independently corroborate the shutdown, the unfavorable market conditions/inadequate revenue rationale, the $10 million 2022 raise, and Polychain Capital and Coinbase Ventures backing. The claim's mention of Jump Crypto participation is consistent with the funding round but only partially reflected in the fetched articles; this minor detail does not undermine the core claim, which is fully supported.
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Summary

Satori Finance, a multi-chain decentralized exchange, said it will cease operations and wind down after concluding that revenue no longer supports the business amid a prolonged unfavorable market environment. Users have until 23:59 UTC on July 16 to withdraw their assets. The closure comes despite the platform processing more than $134 billion in cumulative perpetual futures volume since launch and marks the end of a venture-backed crypto trading platform that raised a $10 million seed round in 2022, backed by Polychain Capital with participation from Coinbase Ventures and Jump Crypto.

Terms & Concepts
  • decentralized exchange: A crypto trading platform that lets users transact directly onchain.
  • multi-chain: Operating across more than one blockchain network.
  • perpetual futures: Crypto derivatives contracts that track an asset's price without a fixed expiry date.