In a significant move to meet regulatory and tax requirements, Arkham has withdrawn $487.24 million worth of $ARKM tokens from its vesting contract and transferred them to Coinbase Prime Custody.

Within the past 48 hours, the Arkham team moved 304.5 million $ARKM, valued at approximately $477 million, to Coinbase Prime.

This transfer means that the unlocking and subsequent transfers of these tokens will no longer be viewable on-chain.

Arkham Team Transfer And Regulatory Adherence 

The Coinbase Prime receiving address subsequently distributed tokens to 239 different addresses. These transfers mark the start of a linear unlock cycle for the Arkham team, investors, and advisors, which began on July 17.

As part of this cycle, the current daily unlock volume for these groups is about 324,200 $ARKM, worth around $518,000.

This strategic move highlights Arkham’s commitment to adhering to regulatory standards while ensuring that their token distribution process remains transparent and compliant. By using Coinbase Prime Custody, Arkham aims to meet compliance requirements effectively, though it also means reduced visibility into the status of these tokens.

The large transfer and the start of the unlock cycle are crucial for the community to understand, as they could impact the token’s market dynamics. Investors and stakeholders should stay informed about these developments, as the increased supply of unlocked tokens may influence $ARKM’s market performance.

Arkham’s proactive steps in meeting tax and compliance standards underscore the growing importance of regulatory adherence in the cryptocurrency space, setting a precedent for other projects to follow.

Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.

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