Arkham Intelligence Plans New Crypto Derivatives Exchange

Arkham Intelligence, the firm behind the blockchain data tracking platform Arkham Intel, intends to launch a crypto derivatives exchange in November, as reported by Bloomberg.

The new derivatives exchange aims to compete with major players like Binance for retail investors but will not be accessible to customers in the United States. According to Bloomberg, Arkham will move its operations and the new exchange to the Dominican Republic from London and New York, and is currently applying for a free-trade zone license.

In July, Arkham's CEO Miguel Morel stated that the firm would explore monetization options for the platform in 2024, while ensuring that core functions remain free.

Arkham has become a popular crypto data and research platform, gaining nearly 84,000 new followers on X between September 30 and October 7, as reported by The Block's Data Dashboard.

Additionally, Arkham's native token ARKM experienced an 18% increase in value over the past day, trading at $1.53 as of 10:51 a.m. ET (14:51 UTC), according to The Block Prices.

The Block reached out to Arkham Intelligence for further comments.