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<![CDATA[<figure class="image"><img src="https://cimg.co/news/125448/331316/adobestock-286664985-edit.jpg" srcset="https://cimg.co/news/125448/331316/responsive-images/adobestock-286664985-edit___media_library_original_1200_800.jpg 1200w, https://cimg.co/news/125448/331316/responsive-images/adobestock-286664985-edit___media_library_original_900_600.jpg 900w, https://cimg.co/news/125448/331316/responsive-images/adobestock-286664985-edit___media_library_original_720_480.jpg 720w, https://cimg.co/news/125448/331316/responsive-images/adobestock-286664985-edit___media_library_original_600_400.jpg 600w, https://cimg.co/news/125448/331316/responsive-images/adobestock-286664985-edit___media_library_original_300_200.jpg 300w" width="1200" class="content-img" alt=""><figcaption>Source: Adobe / prima91</figcaption></figure><a href="https://cryptonews.com/reviews/coinbase/">Coinbase&nbsp;</a>holds nearly 1 million&nbsp;<a href="https://cryptonews.com/coins/bitcoin/">Bitcoin (BTC)</a>&nbsp;in its wallets, accounting for approximately 5% of the total existing BTC supply.&nbsp;Blockchain intelligence platform Arkham has identified Coinbase as the largest Bitcoin entity in the world, holding a total of 947,755 BTC (worth over $25 billion)."This makes Coinbase the largest Bitcoin entity in the world on Arkham, with almost 5% of all BTC in existence - about as much as Satoshi Nakamoto," the platform said in a recent tweet.&nbsp;<figure class="media"><oembed url="https://twitter.com/ArkhamIntel/status/1705254948324233270?s=20"></oembed></figure>Additionally, Arkham has identified and tagged 36 million Bitcoin deposit and holding addresses associated with Coinbase.&nbsp;The largest cold wallet held by the exchange is reported to contain around 10,000 BTC.&nbsp;However, Arkham suggested that Coinbase may possess additional Bitcoin that has not been labeled or identified, based on the exchange's financial reports.Although Arkham claims Coinbase holds over $25 billion worth of BTC,&nbsp;<a href="https://www.coingecko.com/en/public-companies-bitcoin">data by CoinGecko</a>&nbsp;shows the exchange actually owns only around 10,000 Bitcoin, equivalent to approximately $200 million.<h2 id="coinbase-s-btc-holdings-spark-mixed-reactions">Coinbase's BTC Holdings Spark Mixed Reactions</h2>The revelation about Coinbase's substantial Bitcoin holdings has sparked mixed reactions within the crypto community.&nbsp;Some individuals view it as a signal to withdraw their Bitcoin from centralized exchanges, cautioning against waiting until exchanges potentially halt withdrawals.&nbsp;"CEXs are not a place to HODL your coins, use the amazing feature that crypto provides and become a self custodian with your cold wallet," one Reddit user&nbsp;<a href="https://www.reddit.com/r/CryptoCurrency/comments/16pnhiv/comment/k1t9c8t/?utm_source=share&amp;utm_medium=web2x&amp;context=3">said</a>.&nbsp;In terms of Bitcoin ownership by companies, business intelligence firm&nbsp;MicroStrategy&nbsp;maintains its position as the largest holder.&nbsp;In August, the company's co-founder, Michael Saylor, announced that MicroStrategy owns 152,800 BTC, valued at over $4 billion at the time of writing.Coinbase's significant Bitcoin holdings demonstrate its leading position within the cryptocurrency industry despite growing regulatory scrutiny.&nbsp;Back in June, the&nbsp;<a href="https://cryptonews.com/news/breaking-coinbase-sued-by-sec-just-day-after-binance-lawsuit-which-firm-next.htm">SEC sued Coinbase</a>&nbsp;for selling unregistered securities and a number of other alleged wrongdoings.&nbsp;The commission also accused the exchange of illegally running a range of financial services, including trading securities and failing to register as a securities exchange.Following the SEC lawsuit, the largest US-based cryptocurrency exchange also&nbsp;<a href="https://cryptonews.com/news/coinbase-receives-cease-desist-notices-from-11-us-states.htm">received Show Cause orders</a>&nbsp;from 11 US states, which requires Coinbase to justify why it shouldn't cease operations in the states.&nbsp;Meanwhile, despite the regulatory scrutiny, Coinbase has beat second-quarter revenue expectations on higher interest income.The exchange's stock has also seen a blistering rally this year, gaining 156% amid renewed retail interest and sector-wide tech rebound.It is worth noting that Coinbase-backed&nbsp;Base&nbsp;blockchain has also been making headlines as of late.&nbsp;As&nbsp;<a href="https://cryptonews.com/news/base-network-outstrips-solanas-tvl-as-summer-lull-draws-close.htm">reported</a>, Base has surpassed&nbsp;<a href="https://cryptonews.com/coins/sol-solana/">Solana (SOL)</a>&nbsp;in terms of total value locked (TVL).Base's TVL has reached an impressive $397.32 million since its launch in August, outpacing Solana's TVL of $358.96 million.&nbsp;
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This Exchange Holds 5% of All Bitcoin Ever Made

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