1 year ago
Arkham Intelligence said connected Aug. 30 that the trading app institution Robinhood holds the fifth-largest relationship connected the Ethereum blockchain.
The quality level previously identified Robinhood arsenic the proprietor of the third-largest Bitcoin address, which holds 118,300 BTC ($3 billion).
On Twitter/X, Arkham said:
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That code begins with 0x40B… and holds 1.5 cardinal ETH ($2.54 billion). It besides holds much than 100 ERC-20 tokens, collectively worthy $177.1 million. Those numbers bring Robinhood’s full holdings for each Ethereum-based tokens supra $2.71 billion.
Arkham noted that the code holds funds successful custody connected behalf of Robinhood users. Robinhood’s trading exemplary requires the institution to backmost idiosyncratic balances astatine a 1:1 ratio successful enactment with regulations acceptable by the U.S. Securities and Exchange Commission (SEC).
The 4 Ethereum addresses larger than Robinhood’s relationship see Ethereum’s beacon deposit contract, a wrapped Ether contract, and addresses belonging to large cryptocurrency exchanges Kraken and Binance.
The beacon deposit declaration is by acold the largest of those addresses. With much than 29 cardinal ETH ($49.7 billion), it accounts for one-quarter of the full Ethereum supply.
Robinhood has addresses connected different chains
Arkham’s information additionally shows that Robinhood holds funds connected galore different exchanges, including Avalanche ($29.83 million), Polygon ($1.40 million), Arbitrum ($395), and BNB Chain ($203). The funds that Robinhood holds connected each of those blockchains are not wholly made up of the chain’s autochthonal token.
In total, Robinhood holds $7.39 cardinal of crypto successful those addresses arsenic of Aug. 30. The company’s earlier quarterly results indicated that it held $11.5 cardinal of assets related to idiosyncratic cryptocurrency safeguarding obligations connected June 30. It is unclear whether this alteration is owed to fluctuations successful cryptocurrency prices oregon existent changes successful the magnitude of crypto successful each of Robinhood’s addresses.
So far, Robinhood has lone confirmed to CryptoSlate that it owns the $3 cardinal Bitcoin address. This nonfiction volition beryllium updated arsenic Robinhood provides much information.
The quality comes alongside an announcement from Robinhood stating that it volition widen wallet enactment to Bitcoin and Dogecoin and adhd Ethereum swaps.
The station Robinhood owns fifth-largest Ethereum wallet, holding $2.54B successful ETH appeared archetypal connected CryptoSlate.
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