January 27, 2023

Copy-paste | Coinbase has become a superbank of bitcoins

An impressive amount of 966,230 bitcoins is stored on the cold wallet of the Coinbase cryptocurrency exchange, which equals approximately $ 7 billion. It seems that the exchange is increasingly turning into a bank with a growing number of cryptocurrency deposits.

Each cryptocurrency exchange stores part of the cryptocurrency assets in its cold wallets. However, how large are these amounts? When it comes to Coinbase, the answer may shock you.

Coinbase Storage Holds Over $ 7 Billion

According to recent r / Bitcoin data citing BitUniverse, Coinbase is ahead of all its closest competitors by the size of the stored crypto assets.

In the storehouse of this heavyweight is order966,230 BTC, which is equivalent to approximately $ 7.1 billion. The Exchange holds all these assets within the framework of the custodial services it offers. Theoretically, this money does not belong to Coinbase, and, accordingly, the exchange does not have direct access to it. Meanwhile, in fact, she still has private keys.

The rest of the crypto exchanges are significantly behindCoinbase, however, impressive amounts of both client funds and the exchange’s own assets are also stored on their cold wallets. For example, at BitMEX this figure is 265.140 BTC ($ 1.94 billion). The third on the list is Bitstamp with 229.490 BTC ($ 1.67 billion). The list of leaders also includes Bitfinex (146,120 BTC), Kraken (136,780 BTC), Bittrex (131,340 BTC) and Coincheck (35,090 BTC).

Copy-paste | Coinbase has become a superbank of bitcoins

Continuation of the link: https://beincrypto.ru/coinbase-prevratilas-v-superbank-bitkoinov/