2 years ago
Arkham said the wallet contains astir $2.54 cardinal worthy of ETH and these funds are nether custody for idiosyncratic balances.
Arkham Intelligence, a level for monitoring cryptocurrency data, has revealed that isolated from owning 1 of the biggest Bitcoin wallets, Robinhood is besides a starring holder of ether, and is the proprietor of the fifth-largest ETH wallet, which contains astir $2.54 billon worthy of ETH.
Arkham Intelligence stated connected societal media that their designation of Robinhood possessing the third-largest Bitcoin wallet garnered important attention. However, they said, little attraction has been paid to their recognition of Robinhood arsenic the holder of the fifth-largest ETH wallet. In a abstracted update, Arkham emphasized that these funds are nether custody for idiosyncratic balances.
The existent largest Bitcoin wallets successful the world, according to BitInfoCharts, are reportedly owned by Binance and Bitfinex — arsenic Bitcoin acold wallets.
Our recognition of Robinhood arsenic the proprietor of the third-largest Bitcoin wallet was wide covered.
But astir sum missed that we’ve besides identified them arsenic the proprietor of the 5th largest ETH wallet, holding $2.54B of ETH.
0x40B38765696e3d5d8d9d834D8AaD4bB6e418E489 pic.twitter.com/Sczj11uLlA
According to Arkham Intelligence, a wallet associated with Robinhood holds assorted different cryptocurrencies, such arsenic 122,076 BTC ($3.3 billion), 34.1 trillion Shiba Inu (SHIB) ($277.8 million), 4.9 cardinal LINK ($29.7 million) and 2.6 cardinal AVAX ($29.6 million). Despite its prominence successful banal trading, Robinhood's cryptocurrency trading enactment has seen a decline, with second-quarter crypto gross dropping to $31 cardinal from the archetypal quarter's $38 million.
On Wednesday, Aug. 30, the institution announced the enlargement of its wallet product, incorporating "custodial, sending, and receiving capabilities for Bitcoin and Dogecoin," alongside the existing diagnostic of facilitating Ethereum swaps. This enhancement is simply a nonstop effect to idiosyncratic demands for broader support, arsenic stated by the company.
Related: Robinhood accumulates $3B of Bitcoin successful 3 months — What does this mean for markets?
Upon its archetypal motorboat successful March, the Robinhood Wallet introduced self-custody services, catering to the Polygon and Ethereum networks. It besides encompassed assorted tokens similar COMP, MATIC, SHIB, SOL, UNI, on with the USDC stablecoin.
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