The original post: /r/cryptocurrency by /u/CriticalCobraz on 2024-10-13 14:45:09.

Arkham Intelligence Inc., a blockchain data company with investors like OpenAI founder Sam Altman, allegedly plans to launch a crypto derivatives exchange next month in Punta Cana, Dominican Republic.

More details:

• The startup’s token, ARKM, saw a 19% increase to $1.52 after the announcement.
• Arkham’s current platform analyzes blockchain data to provide insights on crypto market activity and has investors such as Bedrock, Draper Associates, Binance Labs, and Altman.
• The new exchange aims to compete with major platforms like Binance and target retail investors.
• The Dominican Republic’s free-trade zone license will be used for the new venue, which offers tax exemptions and fiscal benefits.
• Arkham has been internally developing the technology for the exchange and is in talks to raise up to $100 million from investors in the Middle East.

Source: https://finance.yahoo.com/news/crypto-startup-backed-openai-founder-132558190.html