Coinbase Holds a Whopping 966,230 Bitcoin ($7B) in Cold Wallet

GoGuerilla said:

Well at least you know they aren't running a ponzi oops I mean fractional reserve banking system

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247VCC said:

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According to recent reports, Coinbase has a whopping 966,230 Bitcoin in its cold wallet. The exchange is increasingly becoming like a ‘bank’ which stores a growing number of deposited cryptocurrency assets.

How much cryptocurrency does each exchange hold in its cold wallet? With Coinbase leading the world in being the largest firm by crypto-assets, the numbers will probably shock you.

Coinbase Has Over $7B of Bitcoin in Custody

According to a recent post on r/Bitcoin with data from BitUniverse, Coinbase leads the pack by a large margin in its cryptocurrency holdings.

The cryptocurrency exchange giant holds in Bitcoin alone around 966,230 BTC which amounts to around $7.1B. These crypto-assets are all under Coinbase’s custodial services. Although it does not have direct access to these assets since it is not owned by the exchange, it nonetheless still holds the private keys.

Other exchanges lag behind Coinbase, but still have sizeable cold wallets from its depositors and own funds. BitMEX has around 265,140 BTC ($1.94B) while Bitstamp comes in third with 229,490 BTC ($1.67B). Other top exchanges by assets under its custody are Bitfinex (146,120 BTC), Kraken (136,780 BTC), Bittrex (131,340 BTC), and Coincheck (35,090 BTC).

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Novita Rizki said:

Thats nothing compared to some 3rd world country bank even more so against JP, Citi and so on, not a shock for me

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RankingViews said:

$7B liquid? good joke!

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Novita Rizki said:

Check out tier 4 bank in my country (Indonesia) they got 40B of Deposits and Savings, each

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Kapfenberg said:

Do you really think that those who rule this world, will let some random Banks and random tier 2 and tier 3 countries to get rich over night with something which practically doesnt exist ) ? It's just a game that has been around for a while
we ordinary people have no idea what's going on as it seems even some governments or banks have no idea Does Israel invest in crypto >? or USA or western world in general? no, they are creating and selling it ( for real money)

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hiepdn said:

As you said, you have no idea. Your assumption is at best .. assumption.

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247VCC said:

View attachment 124480 View attachment 124480
According to recent reports, Coinbase has a whopping 966,230 Bitcoin in its cold wallet. The exchange is increasingly becoming like a ‘bank’ which stores a growing number of deposited cryptocurrency assets.

How much cryptocurrency does each exchange hold in its cold wallet? With Coinbase leading the world in being the largest firm by crypto-assets, the numbers will probably shock you.

Coinbase Has Over $7B of Bitcoin in Custody

According to a recent post on r/Bitcoin with data from BitUniverse, Coinbase leads the pack by a large margin in its cryptocurrency holdings.

The cryptocurrency exchange giant holds in Bitcoin alone around 966,230 BTC which amounts to around $7.1B. These crypto-assets are all under Coinbase’s custodial services. Although it does not have direct access to these assets since it is not owned by the exchange, it nonetheless still holds the private keys.

Other exchanges lag behind Coinbase, but still have sizeable cold wallets from its depositors and own funds. BitMEX has around 265,140 BTC ($1.94B) while Bitstamp comes in third with 229,490 BTC ($1.67B). Other top exchanges by assets under its custody are Bitfinex (146,120 BTC), Kraken (136,780 BTC), Bittrex (131,340 BTC), and Coincheck (35,090 BTC).

Click to expand...