4 months ago
Blockchain analytical level Nansen said Singapore’s largest bank, DBS, is an Ethereum whale aft identifying a wallet purportedly belonging to the fiscal institution.
In a May 30 societal media post, Nansen claimed DBS holds astir 173,753 ETH, valued astatine $648 million, successful the wallet code “0x9e927c02c9eadae63f5efb0dd818943c7262fb8e.” It added that the slope had made implicit $200 cardinal from its ETH holdings.
Edward Wilson, Analyst astatine Nansen, said,
“Nansen is 100% definite this belongs to DBS – DBS owns the backstage cardinal of this wallet and these assets are astir apt a portion of their custody solution.
This is akin to however we spot institutions, some crypto-native similar exchanges specified arsenic Binance oregon Coinbase custody funds connected behalf of their users and non crypto autochthonal custody funds. The instauration is the custodian and liable for managing the information of the funds.”
Top 50
Etherscan data shows that the important ETH container would spot the fiscal instauration among the apical 40 holders of the second-largest integer plus by marketplace capitalization.
This places it straight down wallets belonging to centralized exchanges similar Crypto.com and Bybit’s Hot Wallet 1. Notably, DBS is the lone accepted fiscal instauration connected this list, different dominated by large exchanges and crypto platforms specified arsenic Binance, Robinhood, Arbitrum: Bridge, and Kraken.
According to its Wikipedia page, DBS is the largest slope successful Southeast Asia by assets and among the largest banks successful Asia, with assets totaling S$739 cardinal arsenic of December 2023. The bank’s astir important and controlling shareholder is Singapore’s Sovereign Wealth Fund, Temasek.
Customers’ assets?
Crypto assemblage members said DBS’s ETH ownership was further grounds that organization investors are progressively funny successful crypto arsenic a morganatic plus class.
However, immoderate person speculated that the ETH could beryllium to the slope customers. In 2020, the slope launched a crypto trading and integer plus custody level for information token offerings. According to its website:
“DBS Digital Exchange offers trading services betwixt 4 fiat currencies (SGD, USD, HKD, JPY), and six of the much established cryptocurrencies, namely Bitcoin, Ethereum, Bitcoin Cash, Polkadot, Cardano and XRP.”
In a caller report, DBS noted accrued involvement successful the crypto marketplace from retail investors, large-volume traders, and hedge funds.
The station Singapore slope DBS successful apical 40 Ethereum holders with $648 cardinal stash, Nansen finds appeared archetypal connected CryptoSlate.
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