In order to comply with regulatory and tax requirements, Arkham transferred 304.5 million ARKM (worth approximately $487.24 million) to its Coinbase Prime custody service. The transaction also included 115.8 million ARKM tokens belonging to Arkham CEO Miguel Morel.

On July 17, Arkham issued a statement on the social platform X saying that the team tokens must be transferred to Coinbase Prime for tax and regulatory compliance. This transfer enhances security and regulatory oversight by reducing the visibility of tokens on the blockchain.

This step is considered a strategic move in line with Arkham's commitment to regulatory compliance and security. Share your comments.