Arkham has transferred $487 million worth of ARKM tokens to Coinbase Prime for regulatory and tax compliance.
Points
- Arkham transferred 304.5 million ARKMs to Coinbase Prime.
- The transfer ensures proper tax payments and regulatory compliance.
- This marks the beginning of a linear unlocking cycle for the tokens.
In a significant move to comply with regulatory and tax requirements, Arkham has withdrawn 304.5 million ARKMs, valued at approximately $487.24 million, from its vesting contract and transferred them to Coinbase Prime custody.
According to data on its platform, this transaction includes 115.8 million ARKM tokens, worth $185.28 million, owned by Arkham CEO Miguel Morel. Arkham previously communicated via the X social platform on July 17, clarifying that the team’s tokens must be transferred to Coinbase Prime to ensure proper tax payments and regulatory compliance starting July 18.
This transfer means that these tokens’ specific unlocking and transfer status will no longer be visible on the blockchain, enhancing the security and regulatory oversight of the assets. The transfer marks the beginning of a linear unlocking cycle for the team, investors, and advisers, which commenced on July 17. The current daily unlocking volume for these groups is approximately 324,200 ARKM, valued at $518,000. This process is part of a preset three-year unlocking schedule, which remains unchanged despite the recent developments.
解説
- Regulatory Compliance: Transferring assets to a regulated entity like Coinbase Prime ensures adherence to tax and regulatory requirements, providing greater transparency and security.
- Linear Unlocking Cycle: This methodical approach to unlocking tokens over a set period helps manage the supply and prevent market flooding, which could negatively impact the token’s price.
- Security Measures: Enhancing security by transferring tokens to a trusted custodian reduces the risk of unauthorized access and increases investor confidence.