In order to comply with regulations and tax requirements, the company Arkham has made a significant decision to withdraw 304.5 million ARKMs from its vesting contract and moved them to Coinbase Prime custody.
This transaction includes 115.8 million ARKM tokens owned by Arkham CEO Miguel Morel. The transfer was previously communicated on July 17 through the X social platform and the team’s tokens must now be transferred to Coinbase Prime for proper tax payments and regulatory compliance starting July 18.
This transfer makes it more difficult to track the specific unlocking and transfer status of these tokens, increasing the security and oversight of the assets.
The transfer marks the start of a linear unlocking process for the team, investors, and advisers, which began on July 17.
The current daily unlocking volume for these groups is around 324,200 ARKM, with a value of $518,000. This unlocking will continue according to the preset three-year schedule, despite these recent developments.
