Crypto Exchange Orca to Block U.S. Traders From Website

The top decentralized exchange on Solana will restrict U.S. trading activity on beginning on March 31.

AccessTimeIconMar 16, 2023 at 4:53 p.m. UTC
Updated May 9, 2023 at 4:10 a.m. UTC

Decentralized crypto exchange Orca will restrict U.S. users from trading coins via the front end of its website beginning on March 31, a blow to accessibility for the Solana blockchain’s top DEX.

In a notice published to its website Thursday, Orca said it is “adding the United States to the regions and countries which are restricted from trading on,” its website The notice didn't provide a reason for the move or why it was coming now. Orca co-founder Grace Kwan didn't immediately respond to a request for comment.

  • Meme Coin Liquidity Hits Record High
    Meme Coin Liquidity Hits Record High
  • How Ledger Stax Plans to Make Self-Custody More Mainstream
    How Ledger Stax Plans to Make Self-Custody More Mainstream
  • Why Dogecoin Is a 'Weird' Investment
    Why Dogecoin Is a 'Weird' Investment
  • AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
    AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
  • The policy change won't affect traders who directly use Orca’s smart contracts – the infrastructure executing token swaps on-chain. That may provide some reprieve for trading volume because much of Orca’s order flow comes via Jupiter, a trade aggregator that plugs into Orca's back end.

    Orca had $280 million in trading volume over the last week, according to DefiLlama. That was nearly three times more than the trading volume on Raydium, Solana’s second-most popular decentralized-finance trading venue.

    Orca keeps trades flowing by pooling token liquidity from its users. They loan their assets to the exchange and get a slice of fee revenue in return. The new restrictions don't apply to U.S.-based liquidity providers, according to the notice.


    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Danny Nelson

    Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.