Coinbase-Backed Perps Exchange Satori Finance Shuts Down Amid Crypto Market Downturn

Decentralized perps exchange Satori Finance is shutting down after July 16, citing insufficient revenue from prolonged bear market conditions. The platform raised $10 million from Coinbase Ventures and Jump Capital in 2022.

• Satori Finance will cease operations on July 16 after revenue became insufficient to sustain the platform.
• The multi-chain perps DEX raised $10 million from Coinbase Ventures, Jump Capital, and others in 2022.
• Satori processed nearly $99 billion in total trade volume and served over 3 million customers.
• Users must close open trades and withdraw assets before the shutdown date or risk losing access to funds.
• The closure follows a wave of crypto company shutdowns including Botanix, Pudgy Party, Syndicate Labs, Nifty Gateway, and ZeroLend.

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Last updated 18 Jun 2026