Market analysis platform Arkham Intelligence announces the launch of a new spot trading exchange.
In a new thread on the social media platform X, the crypto intelligence agency say it plans to launch a new spot trading service in the US, launching next week.
However, Arkham notes that some US users will have to wait until the platform is fully regulated.
“Eligibility varies by jurisdiction. Users who reside in the United States will be excluded from onboarding until onboarding is legal in their country and state.”
According to previous reports, Arkham first announced in October that it would launch a derivatives exchange as a way to compete with Binance, the world’s largest crypto exchange.
Anonymous sources familiar with the matter said at the time that Arkham – which launched in 2020 – was building the technology and digital infrastructure needed to operate the exchange itself, but was in talks with investors in the Middle East to raise $100 million to pick up.
Other investors include Sam Altman, the CEO of OpenAI and the founder of the identity-focused project Worldcoin (WLD).
ARKM, Arkham’s native token, is currently trading at $2.09 with a market cap of $663 million.
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Generated image: Midjourney