In a groundbreaking discovery, Arkham Intel, a leading platform specializing in blockchain intelligence, has unveiled that Coinbase, the prominent US-based cryptocurrency exchange, holds an astounding $25 billion worth of Bitcoin (BTC) reserves. This revelation catapults Coinbase to the forefront of the global Bitcoin landscape, establishing it as one of the largest Bitcoin entities globally, alongside the mysterious Satoshi Nakamoto. Notably, these uncovered reserves represent nearly 5% of the entire Bitcoin supply.
Arkham Intel’s extensive analysis has successfully identified and cataloged over 36 million Bitcoin deposits and holding addresses linked to Coinbase. Perhaps even more astonishing is the revelation that Coinbase’s largest cold wallet alone contains approximately 10,000 BTC, a testament to the sheer scale of their holdings.
Intriguingly, Arkham Intel hints that Coinbase’s actual Bitcoin reserves might surpass the addresses they’ve identified. Considering Coinbase’s recent financial reports, it’s highly plausible that the exchange holds thousands more BTC that remain untracked and unnamed.
Furthermore, Arkham Intel’s platform exposes Coinbase’s substantial holdings in other cryptocurrencies beyond Bitcoin. The US-based exchange is reported to possess approximately 1.68 million ETH (Ethereum), valued at a staggering $2.69 billion. Additionally, Coinbase boasts a holding of 68.59 million LINK (Chainlink) tokens, with an estimated worth of $471 million.
Coinbase’s cryptocurrency portfolio extends to the stablecoin USDC (USD Coin), which is pegged 1:1 to the US dollar. Coinbase’s holdings in USDC total a remarkable 222 million units. To complete the diverse range of cryptocurrencies in Coinbase’s possession, there’s also a notable 921,000 BNB (Binance Coin), valued at approximately $194 million.
In sum, Arkham Intel’s groundbreaking discovery has brought to light Coinbase’s substantial influence in the cryptocurrency world, particularly as a significant Bitcoin holder. This revelation serves as a testament to Coinbase’s position as a key player in the ever-evolving cryptocurrency ecosystem.