Coinbase Holds 5% of All Bitcoins: Arkham Intel
Arkham Intel reveals Coinbase holds a massive $25 billion in Bitcoin, making it the top Bitcoin-owning exchange.
In a surprising update from the crypto world, Arkham Intel, a top blockchain data company, revealed that Coinbase is the biggest Bitcoin-owning crypto exchange. They found about 1 million BTC, valued at $25 billion, with Coinbase.
Arkham shared this big news on X (once called Twitter) to their 319.5k fans. The data shows Coinbase has close to 5% of all Bitcoins, almost the same as Bitcoin's mysterious creator, Satoshi Nakamoto.
According to Arkham, Coinbase has a huge 36 million BTC in deposit addresses. It's impressive that just one of Coinbase’s offline wallets holds 10,000 Bitcoins.
Chinese reporter Colin Wu talked about this on X. He believes many of the Bitcoins at Coinbase belong to their clients. Arkham also hinted there might be even more Bitcoins at Coinbase that we don't know about yet.
Lastly, Coinbase has lots of other digital coins, like Ether (ETH), Chainlink (LINK), and USD Coin (USDC). They have 1.68 million ETH and large amounts of LINK and USDC too.
