Satori
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Satori Finance was a decentralized perpetual futures exchange that shut down in 2026 after raising $10M in 2022.
Also known as Satori Finance
Investors · 6
Also in the syndicate · 4
Company profile
researched Aug 2026Satori (satori.finance) operated an on-chain derivatives exchange aimed at both retail and institutional traders. At the time of its 2022 seed announcement it was described as a decentralized derivatives platform for the Polkadot ecosystem, based in San Francisco, California, and intended to be available to users across the Moonbeam, Acala, Parallel, Astar and Clover networks [0].
By 2026 the platform was described as a decentralized perpetual futures ("perps") exchange supporting trading on Ethereum, BNB Chain and layer-2 networks including Base and Arbitrum, among other crypto networks [7]. The company said on its website that it had served more than 3 million customers and processed nearly $99 billion in lifetime trading volume [7]. In June 2026 Satori Finance announced it was winding down the platform, stating that revenue had not been sufficient to sustain operations amid prolonged unfavorable market conditions [7].
Founding story
Satori was co-founded by Rahim Noorani, previously at Goldman Sachs and Scale Ventures, and George Wu, previously at Optiver; the 2022 seed announcement described the company as led by experienced financial professionals [0].
Business model
Satori ran a decentralized trading venue for crypto derivatives, working with parachains, market makers and retail users across the Polkadot ecosystem at launch and later spanning multiple chains [0][7]. Sources do not detail its fee or revenue mechanics beyond a statement that platform revenue proved insufficient to cover operating costs [7].
Traction
The company's website claimed more than 3 million customers and nearly $99 billion in lifetime trading volume as of mid-2026 [7].
Latest developments
In June 2026 Satori Finance announced via X that it was sunsetting the platform due to financial stress in a declining crypto market. The exchange was to stay operational for roughly a month, with users urged to close open positions and withdraw assets before operations ceased after July 16 at 7:59 p.m. ET. The company said user assets remained under user control during the transition. Press coverage placed the shutdown within a broader wave of crypto company closures and layoffs in 2026 [7].
▸Full profile — market position, technology, go-to-market, geography, risks & controversies
Market position
Backed by Coinbase Ventures, Polychain Capital, Blockchange Ventures and Jump Crypto, Satori positioned itself as a dedicated derivatives venue for the Polkadot ecosystem before expanding to other chains; it ultimately ceased operations in 2026 [0][7].
Technology
An on-chain derivatives exchange offering perpetual futures trading, deployed across multiple blockchains including Ethereum, BNB Chain, Base and Arbitrum, and originally targeted at Polkadot ecosystem chains such as Moonbeam, Acala, Parallel, Astar and Clover [0][7].
Go-to-market
Experienced retail traders and institutional investors seeking on-chain derivatives exposure, initially within the Polkadot ecosystem, alongside parachains and market makers [0].
Geography
Reported as San Francisco, California-based at the time of its 2022 seed round [0].
Risks & controversies
Coverage of the shutdown noted that after the cutoff date customers might no longer be able to access their funds, and attributed the closure to prolonged unfavorable market conditions and insufficient revenue [7].
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 2
launches, deals, and filingsSatori Finance said it would sunset its platform because revenue was insufficient to sustain operations amid a declining crypto market. Users were advised to close open trades and withdraw assets; operations were to cease after July 16 at 7:59 p.m. ET, after which customers may no longer be able to access funds.
Satori, a San Francisco-based decentralized derivatives platform for Polkadot, raised $10M in seed funding led by Polychain Capital and Blockchange Ventures, with participation from Jump Crypto, Gavin Wood, Coinbase Ventures, Portal, Acala, Astar, Parallel and Clover. Proceeds were earmarked for engineering headcount and a security and reliability team.
$10M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Satori Raises $10M in Seed Funding - FinSMEsfinsmes.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Satori do?
- Satori Finance was a decentralized perpetual futures exchange that shut down in 2026 after raising $10M in 2022.
- Who are Satori's investors?
- Satori's investors include Coinbase Ventures, D1 Ventures.