Coinbase’s Multi-Billion Crypto Portfolio Will Leave You Shocked! Here’s A Detailed Look
Blockchain analytics firm Arkham recently uncovered remarkable details about Coinbase’s cryptocurrency holdings. The revelations not only highlight Coinbase’s massive Bitcoin holdings of over one million BTC valued at more than $25 billion but also showcase their extensive portfolio across various cryptocurrencies.
According to Arkham, Coinbase’s Bitcoin reserves amount to approximately $25 billion, which is equivalent to around 5% of all existing BTC. This places Coinbase on par with Satoshi Nakamoto, the creator of Bitcoin, in terms of the quantity of BTC held.
Coinbase’s impact on the cryptocurrency market is further emphasized by its treasure trove of 36 million BTC deposits and holding addresses, as well as a cold wallet containing roughly 10,000 BTC. These numbers solidify the exchange’s position as one of the largest cryptocurrency entities globally.
Furthermore, Arkham’s investigation delves into Coinbase’s diverse holdings, highlighting its impressive array of assets. The exchange currently holds 1,686,000 ETH valued at $2.68 billion, 68,591,000 LINK worth $467.10 million, and several other cryptocurrencies. Some notable assets include 222,832,000 USD Coin (USDC), worth $222.83 million, and 921,875 Binance Coin (BNB), valued at $194.11 million.
In an interesting twist, a tweet humorously suggests that asset management giant BlackRock might attempt to surpass Coinbase’s milestone. However, this joke is offset by the fact that Coinbase is already a custodian for BlackRock. This partnership, announced months ago, sheds light on the power dynamics within the crypto space.
It’s worth mentioning that Coinbase is currently facing a lawsuit from the US Securities and Exchange Commission (SEC) for alleged violations of custody rules and other charges. Interestingly, if the SEC approves BlackRock’s ETF filing, it could potentially lead to a swift resolution of the ongoing lawsuit.
In conclusion, Arkham’s findings offer valuable insights into Coinbase’s cryptocurrency holdings, highlighting the exchange’s significant position in the market. As the crypto industry continues to evolve, Coinbase’s extensive portfolio and partnerships with influential institutions like BlackRock will undoubtedly shape its future trajectory.
