banner

Arkham Intelligence to Compete with Binance in Crypto Derivatives

Arkham Intelligence, a blockchain analytics startup backed by OpenAI, is setting its sights on a new venture—launching a crypto derivatives exchange to compete with industry giant Binance. With this pivot, Arkham aims to capture a share of the growing retail crypto trading market.

Arkham Intelligence Plans Crypto Exchange to Challenge Binance

Arkham Intelligence, well-known for its blockchain data analytics, is undergoing a major transformation. Backed by high-profile investors, including OpenAI’s founder Sam Altman, the company is shifting its focus to establish a crypto derivatives exchange as reported by Bloomberg. The new exchange is set to launch in November, signaling a bold move to compete with the world’s largest spot and derivatives exchange, Binance.

To support this expansion, Arkham is relocating its headquarters from London and New York to Punta Cana in the Dominican Republic. From this new base, Arkham will manage all its operations, including the upcoming exchange.

Taking on a Crypto Giant

Challenging Binance, which boasts daily trading volumes of $12.7 billion in spot markets and $47.6 billion in derivatives, is no small task. Arkham’s strategy focuses on catering to retail investors, a fast-growing segment in the crypto space. To strengthen its position, Arkham has already onboarded experienced executives with expertise in crypto trading.

Since its founding in 2020, Arkham Intelligence has focused on blockchain analytics, providing insights into key players in the crypto market. This shift into derivatives trading marks a significant change in direction for the company.

Regulatory Hurdles Ahead for Arkham

Despite its ambition, Arkham will need to navigate the complex regulatory environment surrounding centralized exchanges (CEXs). In the U.S., exchanges often face scrutiny from regulators like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Recently, the SEC charged Cumberland DRW LLC, a Chicago-based firm, with operating as an unregistered dealer in the crypto market. These challenges are likely to extend to Arkham as it enters the competitive and regulated derivatives space.

Crypto exchanges like Bitnomial have also faced legal battles with the SEC, challenging its jurisdiction over certain digital assets, such as XRP futures contracts. As Arkham moves forward, regulatory clarity will be critical to its success in the U.S. market.

banner

Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

Follow Us

Top Selling Multipurpose WP Theme

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

banner

Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Social Media Auto Publish Powered By : XYZScripts.com
Skip to content