Title: Arkham Discovers $25 Billion Bitcoin Holdings in Coinbase, Making It the Largest Bitcoin Entity
Introduction
Blockchain intelligence firm Arkham has revealed that popular cryptocurrency exchange Coinbase holds approximately $25 billion worth of Bitcoin (BTC). This staggering amount positions Coinbase as the world’s largest entity holding Bitcoin, with the holdings making up approximately 5% of all Bitcoin in circulation.
Coinbase’s Bitcoin Holdings
According to Arkham’s announcement, the firm identified nearly 1 million BTC on the blockchain designated as reserves for Coinbase. This significant holding establishes the US-based crypto exchange as “the largest Bitcoin entity in the world on Arkham.” These holdings are extensive, accounting for almost as much BTC as it is attributed to Bitcoin’s mysterious creator, Satoshi Nakamoto.
Further Details on Coinbase’s Crypto Portfolio
Aside from Bitcoin, Coinbase boasts an impressive crypto portfolio. The exchange currently holds 1.68 million Ethereum (ETH), 68.6 million Chainlink (LINK), almost 223 million USD Coin (USDC), and 921,000 BNB (BNB). In total, these assets contribute to Coinbase’s crypto portfolio, which is valued at over $29 billion as of September 22, according to data from Arkham.
Additional Discoveries by Arkham
Arkham also reported that Coinbase houses about 36 million Bitcoin deposit and holding addresses, including a cold wallet containing 10,000 BTC. The intelligence platform suspects that there may be millions of other untagged assets within Coinbase’s ecosystem.
Future Regulation and Expansion
Coinbase’s growth continues as it secures regulatory approval in Spain. The company recently obtained registration with the Bank of Spain, enabling it to operate as a crypto exchange and provide cryptocurrency custody wallet services in the country. This move expands Coinbase’s regulatory presence, adding to its previous milestones in Italy, Singapore, the Netherlands, Brazil, and Canada. The exchange is also actively seeking regulatory clarity within the United States.
Conclusion
Arkham’s findings have shed light on the vast Bitcoin holdings within Coinbase’s reserves, positioning the exchange as the largest Bitcoin entity globally. With its impressive crypto portfolio and regulatory advancements, Coinbase continues to solidify its position as a key player in the cryptocurrency industry.
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Categories: Crypto News, Blockchain, Bitcoin
Tags: Coinbase, Bitcoin, Arkham, Crypto Exchange, Cryptocurrency
