Arkham

Arkham 宣佈計劃關閉其加密貨幣交易平台 Arkham Exchange，標誌著其從交易服務策略性轉向核心情報業務。該平台已於 5 月 13 日起停止支援 TON 鏈，顯示其將資源重新聚焦於具長期優先順序的特定區塊鏈。

In September 2026, ARKM faced a major unlock of about 199 million tokens (roughly 88% of prior circulating supply), followed by a further 2.5% of total supply on October 18, with supply pressure the dominant price factor.

Product expansion continued: Visualizer 2.0 launched on October 15, Pump.fun Terminal integration arrived on October 9, the API was upgraded to minute-level real-time updates on September 8, and compliance-oriented Risk Scores launched in June; a token transparency report was filed with Blockworks on September 1, while the exchange decentralization transition announced in February still lacks a timeline.

The platform's influence kept growing: it revealed Robinhood's roughly $25 billion crypto holdings in October and estimated Satoshi's holdings above 1 million BTC in September. ARKM serves governance, Intel Exchange settlement and fee discounts, with no explicit buyback-and-burn mechanism.

In February 2026 chief executive Miguel Morel announced that Arkham Exchange would move from a centralised design to a fully decentralised one, shifting control on-chain over time without publishing a timetable. On September 1 the company filed a token transparency report with Blockworks, disclosing that ARKM is used for incentives, intel trading and governance, with proposals needing 7% quorum and a majority, while intellectual property and the brand stay with the operating companies.

Transaction Explorer V2 launched on September 21, treating swap detection as a first-class data type and netting multi-hop aggregator trades per address and token; the cross-chain Tracer v2 tool followed on September 22, and a September 8 API upgrade cut intelligence latency to minutes. On September 25 Arkham published a preliminary analysis of the Bitget hot wallet theft, later revised from $351.6 million to $387.5 million. ARKM remains about 97% below its all-time high.

Arkham's revenue has decoupled from its token: the free intelligence layer has built 3 million users and 3.5 million wallet labels, while cash flow comes from subscriptions and APIs sold to hedge funds, compliance teams and governments, and the Enterprise paid tier launched on 20 October turns advanced analytics into a product billed in fiat, not ARKM. The token side is left with Intel Exchange bounties and its 2.5%/5% fees plus exchange fee discounts, while centralised exchange volume at one point ran below $620,000 a day, so moving to a DEX is the realistic way to put clearing and governance back on-chain. The task is not another feature but a route from institutional subscription revenue back into the token, or company and token value keep diverging.

Miguel Morel（創始人兼執行長） Miguel Morel 是區塊鏈情報平台 Arkham 的創始人兼執行長。他於2020年創立該公司，旨在實現區塊鏈交易的去匿名化。在他的領導下，Arkham 已發展成為服務頂級機構的平台，包括交易公司、交易所和政府機構。Morel 曾共同創辦金融科技公司 Reserve，並擁有賓夕法尼亞大學的哲學、統計學和經濟學背景。他在 Twitter（@MiguelMorel）和 LinkedIn 上相當活躍。