Polychain and Coinbase-backed Satori Finance DEX winds down citing ‘unfavorable market conditions’
The Block·
60-second summary
Satori Finance, a decentralized exchange backed by Polychain Capital and Coinbase, is winding down operations due to unfavorable market conditions. The DEX raised $10 million in a seed round in May 2022, with Polychain Capital leading the investment and Coinbase participating. This development highlights the ongoing challenges faced by crypto startups in the current market environment.
Satori raised $10 million in a May 2022 seed round led by Polychain Capital with participation from Coinbase, Jump and others.