Wow, nuts if this is true, Arkham Intel claims #Coinbase holds 1 Million BTC and their largest wallet has 10,000 BTC in it

I assume a large portion of this 1 Million #BTC is part of Coinbase's holdings for institutions, but I'm sure there's still a sizable amount held in the name of retail users.

That's a lot of corn for one company to be responsible for, and I wonder what it takes for people to start removing that risk, do we need another drama? Was F#TX not enough of a lesson for people to move to self-custody?

I know CB claims they will have LN integration soon, which might help some people move their funds, but 1 out of all 21 million is still crazy to me

https://www.newsbtc.com/coinbase/coinbase-holds-25-billion-worth-of-bitcoin-becomes-largest-holder-with-1m-btc/

Reply to this note

Please Login to reply.

Discussion

possible

#Coinbase is the vehicle that will be used by #Blackrock &co to fund their #EFT business.

Means they will just lend the #BTC from Coinbase to,sell eft's.

The conclusion is that in the end we will not see a bear market due to the eft's showing up. But same time they are risking a squeze out when people start to take their BTC off the exchange for self custody.

At least this could be a possible szenario.

Mateusz

nostr:nevent1qqswtnzlztdjjfex5tyngf2qfgu7hl6pn93u0halch3llnugffnrznspp4mhxue69uhkummn9ekx7mqzyplv60lxx5lvf3fkwfunaq2yts4rr8x0pg5c4ywh0tw05wrt2tes6qcyqqqqqqg6rceqc

does this include saylor's stack for example?