Arkham Intelligence is launching a new spot trading exchange in the US, expected next week. US users will have to wait until it’s fully regulated. Its aiming to compete with Binance with big alibi as investors, like Sam Altman. Arkham’s token, ARKM, is trading at $2.09 with a $663M market cap.
Arkham Intelligence is a crypto market analytics platform which specializes in providing intelligence and data insights to help users navigate the blockchain and cryptocurrency space. It was launched in 2020 and its main aim is to bring transparency to the crypto market by offering tools for tracking on-chain activity, analyzing market trends, and providing insights for traders and investors. It is now expanding into the spot trading exchange game to compete with major platforms like Binance.
They announced this news on the social media platform X. They basically announced their plans to start a new spot trading service in the US, launching as soon as next week. However, Arkham does note that some of the users in US might not have availability of it until its fully developed.
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Previously on October, they announced that it would be launching a derivatives exchange as a means of competing with Binance, which is arguably the biggest crypto exchange in the world.
Some sources suggest, Arkham was actually building the technology and digital infrastructure required to operate the exchange themselves and was in close contact with whales in the Middle East to raise $100 million. Other investors include the man, CEO of OpenAI, Sam Altman himself.
Conclusion
Arkham Intelligence is really posing itself as a key player in the crypto market, with plans to launch its own exchange while attracting significant investment and backings from prominent figures like Sam Altman.
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