USDC

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Arkham

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<p>The post <a rel="nofollow" href="https://coinpedia.org/news/arkham-claims-that-coinbase-owns-approximately-1-million-bitcoins-worth-over-25-billion/">Coinbase’s Multi-Billion Crypto Portfolio Will Leave You Shocked! Here’s A Detailed Look</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Blockchain analytics firm <a href="https://coinpedia.org/news/did-a-bug-fix-by-arkham-intelligence-trigger-the-bitcoin-price-crash-regulators-take-notice/">Arkham</a> has uncovered astonishing details about Coinbase’s cryptocurrency holdings. The revelations not only shed light on the immense <a href="http://Coinbase Holds Massive $25 billion Worth of Bitcoins!">Bitcoin holdings</a> of over one million BTC valued at more than $25 billion but also highlight Coinbase’s extensive portfolio across various cryptocurrencies. </p> 
<p>Let’s dig into the findings!</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Arkham has now identified $25B of Coinbase Bitcoin reserves (~1M BTC) on chain.<br><br>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. <a href="https://t.co/7sDOczS7WT">pic.twitter.com/7sDOczS7WT</a></p>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1705254948324233270?ref_src=twsrc%5Etfw">September 22, 2023</a>
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<h2 class="wp-block-heading" id="strong-the-numbers-game-strong"><strong>The Numbers Game</strong></h2> 
<p>With a treasure trove of 36 million BTC deposits and holding addresses and a cold wallet containing roughly 10,000 BTC, Coinbase’s impact on the cryptocurrency market is monumental. This places the exchange in possession of nearly 5% of all existing Bitcoins, aligning it closely with the creator of Bitcoin, Satoshi Nakamoto.</p> 
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 <img decoding="async" src="https://lh3.googleusercontent.com/oun18jMJ2rBZyYVpCSKXQDVb-F-Lm6hpvq_nGElKRqNFmtCFU0rA_aiAQtIliK_9GGVozpYpi9HYqoL0AUqfxOBvOeoON2eqx7qbl_NSGnkHbb4hazT_twEXS848a49SGVZRIwPELgeA6AMuo9XoK_s" alt="">
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  <a href="https://platform.arkhamintelligence.com/explorer/entity/coinbase"><em>Source : Arkham</em></a>
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<p>Also Read: <a href="https://coinpedia.org/news/coinbase-stand-with-crypto-movement-sweeps-across-america-voters-rally-behind-crypto-friendly-candidates/">Crypto Voters Could Decide the 2024 Election, Coinbase Data Shows</a></p> 
<h2 class="wp-block-heading" id="diversifying-is-key">Diversifying is Key!</h2> 
<p>Arkham’s investigation dives deeper into the vault, revealing the exchange’s impressive array of assets. Holding 1,686,000 <a href="https://coinpedia.org/information/market-price-prediction-ethereum-2019/">ETH</a> valued at $2.68 billion, 68,591,000 <a href="https://coinpedia.org/price-prediction/chainlink-price-prediction/">LINK</a> worth $467.10 million, and several other cryptocurrencies.&nbsp;</p> 
<p><strong>Here’s a look:</strong></p> 
<ul> 
 <li>222,832,000 USD Coin (USDC), worth $222.83 million</li> 
 <li>921,875 Binance Coin (BNB), valued at $194.11 million</li> 
 <li>854,137,000 The Graph (GRT) tokens, worth $74.62 million</li> 
 <li>12,100,000 Uniswap (UNI) tokens worth $51.18 million</li> 
 <li>162,458,000 0x Protocol (ZRX) tokens, valued at $30.28 million</li> 
</ul> 
<h2 class="wp-block-heading" id="h-the-blackrock-connection"><strong>The Blackrock Connection</strong></h2> 
<p>While the crypto community was abuzz with Coinbase’s towering presence, a <a href="https://twitter.com/YinYangAlgo/status/1705299266925715750">tweet</a> joked that asset management giant BlackRock would be keen to wrest this milestone from Coinbase. </p> 
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   <p lang="en" dir="ltr">That’s very impressive of coinbase, I’m sure blackrock will try and claim this milestone from them</p>— YinYang Algorithms (@YinYangAlgo) <a href="https://twitter.com/YinYangAlgo/status/1705299266925715750?ref_src=twsrc%5Etfw">September 22, 2023</a>
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<p>But the twist in the tale? <a href="https://coinpedia.org/news/coinbase-custody-secures-blackrocks-trust-for-spot-bitcoin-etf-signaling-sec-lawsuit-resolution-imminent/">Coinbase is already a custodian for BlackRock</a>, a partnership both companies announced months ago. Now, you can have a bigger picture of the power dynamics within the crypto space.</p> 
<p>It’s worth noting that Coinbase is currently facing a lawsuit from the US SEC for alleged violations of custody rules and other charges. Should the SEC approve <a href="https://coinpedia.org/news/pro-xrp-lawyer-criticizes-secs-delay-of-blackrock-bitcoin-etf-alleges-favoritism-towards-incumbent-players/">BlackRock’s ETF filing,</a> it could lead to a swift resolution of the ongoing lawsuit.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/is-blackrock-secretly-influencing-bitcoin-price-crypto-expert-raises-questions/">Is BlackRock Secretly Influencing Bitcoin Price? Here’s the Truth.</a><br></p>

Coinbase’s Multi-Billion Crypto Portfolio Will Leave You Shocked! Here’s A Detailed Look

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