Arkham Intelligence, a crypto analytics and data tracking firm, has made a remarkable revelation about Coinbase’s bitcoin (BTC) holdings. On September 22, 2023, Arkham announced that it has identified addresses tied to a staggering $25 billion from Coinbase’s BTC reserves. This cache represents the most substantial BTC reserve ever discovered on Arkham, almost on par with Satoshi Nakamoto’s legendary 1 million coins.
According to Arkham’s data, Coinbase’s BTC holdings currently amount to 948,383 BTC, valued at $25.16 billion. In addition to BTC, Arkham’s findings also showcase other assets held by Coinbase. These include 1.686 million ethereum (ETH), valued at $2.68 billion, as well as 68.591 million chainlink (LINK), worth approximately $473.96 million. Coinbase also holds significant amounts of USDC, BNB, GRT, and UNI tokens, with a cumulative worth of $29.09 billion on Arkham’s platform.
While Coinbase’s assets on Arkham are substantial, they are dwarfed by Binance’s holdings, which currently stand at $64.83 billion. Binance has a more modest BTC reserve of 658,256 BTC but holds a significant amount of tether (USDT) and ethereum (ETH).
This revelation by Arkham Intelligence sheds light on the scale of cryptocurrency reserves held by major exchanges like Coinbase and Binance, providing a glimpse into the vast wealth accumulated within the crypto industry.
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