Polychain and Coinbase-Backed DEX Satori Finance Announces Shutdown

According to The Block, on June 18, Satori Finance, a multichain decentralized exchange backed by Polychain Capital, Coinbase Ventures, and Jump Crypto with a $10 million seed round, announced it is shutting down due to adverse market conditions and insufficient revenue to sustain operations. Users must withdraw funds by July 16 at 23:59 UTC, after which the platform will cease operations.

Data from DeFi Llama shows Satori's total value locked declined from a 2024 peak of $6.7 million to $1.2 million, while annual fees were approximately $3 million. Trading volume over the past 30 days reached just $320 million.