Arkham alleges rivals of disseminating ‘baseless gossip’ during token sell-off

Blockchain analytics firm Arkham has accused its competitors of spreading false rumors in an attempt to create fear, uncertainty, and doubt (FUD) after questions were raised about the firm’s transfer of its native ARKM tokens. While Arkham did not specifically name the competing firms, a recent post by fellow blockchain analytics firm Nansen claimed that Arkham had transferred over 25.2 million ARKM tokens (worth over $56 million) in the past two days to unlabeled wallets and cryptocurrency exchange Binance. Arkham responded by stating that the movements of ARKM tokens were in line with its published tokenomics. The firm explained that the tokens were sent to a novel wallet address as per an approved protocol proposal and that 5 million ARKM tokens sent from its ecosystem fund were unlocked as per its tokenomics. When questioned about the discrepancy in the number of tokens in its vesting wallets, Arkham clarified that the wallets will be deployed gradually as it receives addresses from non-crypto investors and makes new hires. The firm emphasized that all team and investor tokens remain fully locked and trackable. As of the time of publication, ARKM’s fully diluted market cap stands at $2.047 billion. Despite its previous success, ARKM has seen a 40% decrease in value in the past month. The firm received an undisclosed investment from Binance Labs in November.