Polychain and Coinbase-backed DEX Satori Finance Announces Shutdown

CoinFeed June 18 news, according to The Block, multi-chain DEX Satori Finance, which previously raised $10 million in seed funding from Polychain Capital, Coinbase Ventures, Jump Crypto and others, announced its closure due to "persistently unfavorable market conditions." The team stated that revenue was insufficient to sustain operations and the platform is no longer financially viable. Users must withdraw funds before 23:59 UTC on July 16, after which the platform will cease operations. DeFi Llama data shows Satori's total value locked dropped from a peak of $6.7 million in 2024 to $1.2 million, with annualized fees of approximately $3 million.