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

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

Posted at 06:01h in Cryptocurrency News by

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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…

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