Polychain and Coinbase-backed Satori Finance DEX winds down citing ‘unfavorable market conditions’
Compiled by KHAO Editorial — aggregated from 3 sources. See llms.txt for citation guidance.
✓ KHAO Verified
Satori Finance, a multi-chain DEX that had raised $10 million, is shutting down, becoming the latest crypto protocol to close up shop during the most recent market downturn.
Key facts
- Satori has a total value locked of $1.2 million, down from a high of $6.7 million in 2024, according to DeFi Llama
- Satori raised $10 million in a May 2022 seed round led by Polychain Capital, with participation from Coinbase Ventures and Jump Crypto, among other notable backers
- Users are encouraged to withdraw their funds during a closing window that will stay open until July 16, 23:59 UTC
- Satori Finance, a multi-chain DEX that had raised $10 million, is shutting down, becoming the latest crypto protocol to close up shop during the most recent market downturn
Summary
"After careful consideration, we have made the difficult decision to wind down Satori Finance operations," Satori wrote in an X post. Users are encouraged to withdraw their funds during a closing window that will stay open until July 16, 23:59 UTC. Satori is far from the only crypto protocol or firm to shut down in recent months. Despite recent regulatory advancements as well as a spate of institutional adoption, many major crypto assets like ETH and SOL are trading at levels seen during the post-pandemic bear market in 2022, leading to a sense of dislocation across the industry.