rkham has recently moved an amount of ARKM tokens totaling 304.5 million tokens valued at $487 million from its vesting contract, to the Coinbase Prime custody wallet. This move reflects Arkham’s commitment to meeting tax and regulatory requirements as it progresses with unlocking its supply until 2025.
Key Points of the Token Transfer
The transfer process involved moving 115.8 million ARKM tokens linked to CEO Miguel Morel, with a value of $185 million to Coinbase Prime for management during the remaining period. By choosing Coinbase as the custodian for these tokens, Arkham aims to ensure compliance that promotes transparency and reduces risks for all stakeholders involved.
Consistent Progress in Unlocking Schedule
Arkham remains committed to its planned three-year schedule for releasing its tokens amidst the custody transition. 324,200 ARKM tokens valued at $518,000 are vested daily according to the contract terms. This consistent approach assures investors and supporters that Arkham is staying true to its distribution strategy for long-term market growth.
The decision by Arkham to store its assets with Coinbase Prime reflects its dedication to operating within the cryptocurrency industry. By prioritizing tax compliance and secure fund storage Arkham is setting a standard for industry practices. This move demonstrates transparency in dealings with regulators and also provides shareholders with added security through Coinbase’s strong security measures. In a time when other crypto companies are under increased scrutiny, Arkham’s stance serves as a blueprint for maintaining compliance and building trust in the market.
