For a long time, it was attributed to Binance the richest exchange in bitcoins: 588,000 BTC in total. Among these digital assets, there are shares that go to its 120 million users. Thus, when it comes to crypto entities with a portfolio rich in its own bitcoins, MicroStrategy takes first place, holding 152,800 BTC. However, compared to Coinbase reservesthese figures seem insignificant.
In short
- Arkham revealed the richest bitcoin exchange: Coinbase
- Brian Armstrong’s cryptocurrency exchange reportedly holds around 1 million BTC in reserve
Coinbase, the richest bitcoin exchange
In his latest report of Proof-of-Reserves (PoR), Binance reported holding approximately 588,000 bitcoins in its crypto vaults. Many believed that CZ cryptocurrency exchange is the richest of all crypto-companies in existence. Except that this recent revelation risks turning everything upside down.
“ Arkham has now identified $25 billion in bitcoin reserves from Coinbase (~1 million BTC) on the chain.
This makes Coinbase the world’s largest Bitcoin entity on Arkah, with almost 5% of all BTC in existence – about as much as Satoshi Nakamoto “.
In a recent publication, BTC News relayed this discovery from Arkham Intel on the Coinbase treasure. According to calculations by this crypto media, the American exchange would have in its possession approximately 25 billion dollars in bitcoin. The approximately 1 million BTC held in its wallets, multiplied by $26,657.57 per coin, leads us to revise this figure.
Basically, Coinbase would hold the equivalent of $26.5 billion in Bitcoin. Note that this figure is subject to change as the price of the flagship crypto has been fluctuating lately.
Arkham scans revealed the following details:
- Coinbase’s bitcoin reserves represent approximately 5% of the total Bitcoin supplywhich is 21 million coins;
- Brian Armstrong’s exchange holds digital assets close to those of Satoshi Nakamoto (1,125,150 BTC);
- more than 36 million bitcoin deposits and holding addresses are believed to be associated with Coinbase;
- the largest cold wallet on the US exchange contains around 10,000 BTC;
- etc.
Other Coinbase cryptos
The immensity of Coinbase’s Bitcoin holdings is breathtaking. But Arkham Intel also specified that the American crypto company has other altcoins in its wallets:
- 1.68 million ether (ETH), or $2.69 billion;
- 68.59 million LINK tokens from Chainlink, the equivalent of $417 million;
- 921,000 worth of Binance Coin (BNB), or $194 million
- 222 million USD Coin (USDC);
- etc.
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