Arkham Alleges Competitors Spreading ‘False Rumors’ During Token Selloff

Arkham, a blockchain analytics firm, has accused its competitors of spreading fear, uncertainty, and doubt (FUD) regarding the transfer of its native ARKM tokens. Although Arkham did not name the competitors, a post by blockchain analytics firm Nansen claimed that Arkham had transferred over 25.2 million ARKM, worth more than $56 million, to unlabeled wallets and Binance, a cryptocurrency exchange. Nansen questioned this activity, stating that the ARKM was sent to new Binance addresses and a fresh wallet address with no prior activity. In response, Arkham clarified that the token movements were in line with their tokenomics and were of unlocked tokens.

According to Arkham, the first transfer involved sending 20 million ARKM to a novel wallet address, following an approved protocol proposal titled “Deploy ARKM-secured Chainlink DON for Intel Verification; Add Support for Solana; Establish Treasury Pool I; Implement Bounty Joining.” 5 million ARKM were unlocked from Arkham’s ecosystem fund in accordance with their tokenomics. When questioned about the difference in the number of tokens in its vesting wallets compared to its tokenomics paper, Arkham explained that the vesting wallets will be deployed gradually as they receive addresses from non-crypto investors and make new hires. The firm emphasized that there have been no early unlocks and that all team and investor tokens remain fully locked and trackable.

As of now, ARKM’s fully diluted market cap is $2.047 billion. Despite experiencing significant growth in the past year, partly due to the excitement surrounding its AI implementation in blockchain analytics, ARKM has witnessed a decline of nearly 40% in value over the past month. The firm received an undisclosed investment from Binance Labs in November, contributing to its financial position. Arkham aims to address the concerns raised by its competitors and assure its investors of the integrity and transparency of its token movements.