Arkham transfers $487M ARKMs to Coinbase Prime for tax compliance
As the unlocking process progresses, Coinbase Custody will play a crucial role in managing the vesting of these tokens.
In a significant move to comply with regulatory and tax requirements, Arkham has withdrawn 304.5 million ARKMs, valued at approximately $487.24 million, from its vesting contract and transferred them to Coinbase Prime custody.
According to the data on its platform, this transaction includes 115.8 million ARKM tokens, worth $185.28 million, owned by Arkham CEO Miguel Morel.
Arkham previously communicated via the X social platform on July 17 and clarified that the team’s tokens must be transferred to Coinbase Prime to ensure proper tax payments and regulatory compliance from July 18 onward.
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Author: Amaka Nwaokocha
