Arkham Intelligence Launches a Cryptocurrency Derivatives Exchange
- Barbara StreisandOriginal
- 2024-11-07 13:38:28405browse
Blockchain analytics firm Arkham Intelligence has launched a cryptocurrency derivatives exchange, according to a Nov. 6 announcement.
Blockchain analytics firm Arkham Intelligence is venturing into the cryptocurrency derivatives market with the launch of its own exchange.
The platform will begin operating next week, though it will not be accessible to traders in the United States, according to an announcement on Monday.
The move comes amid a crypto derivatives boom, largely driven by retail investors' trading activity.
In September, crypto derivatives trading volume surpassed $3 trillion, up from about $1.5 trillion a year earlier, a report by CCData showed.
Major crypto derivatives products are being rolled out by exchanges including the Chicago Mercantile Exchange.
In the United States, Coinbase Derivatives Exchange launched in 2022, bringing crypto futures to Coinbase's tens of millions of American users.
Arkham is known for its blockchain tracking tool, which helps identify the entities linked to crypto wallet addresses.
The firm raised $12 million from investors including Sam Altman, the founder of ChatGPT creator OpenAI.
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