Saltık 
To comply with regulatory and tax requirements, Arkham withdrew 304.5 million ARKM tokens, valued at approximately $487.24 million, from the vesting agreement and transferred them to Coinbase Prime escrow.
According to data on the platform, this transaction includes 115.8 million ARKM tokens worth $185.28 million belonging to Arkham CEO Miguel Morel.
Arkham’s Token Transfer to Coinbase Prime
In a statement on the X social platform on July 17, Arkham stated that the team’s tokens should be transferred to Coinbase Prime starting July 18 to ensure correct tax payments and regulatory compliance.
Might interest you: Arkham Intelligence to Launch Paid Features in 2023
This transfer means that certain opening and transfer statuses of these tokens will no longer be visible on the blockchain, increasing the security and regulatory oversight of assets.
The transfer marks the beginning of a linear opening cycle for the team, investors and advisors that began on July 17. The daily open volume of these groups is currently approximately 324,200 ARKM, worth $518,000. This process is part of a predetermined three-year opening schedule that remains unchanged despite recent developments.
The transfer to Coinbase Prime is a strategic step towards Arkham’s commitment to regulatory compliance and robust security measures. By using Coinbase Prime’s escrow services, Arkham ensures tokens are managed under strict security protocols and provides assurance to investors and stakeholders.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.