Final February the crypto neighborhood was obsessive about a particular dogecoin handle that occurs to be the biggest dogecoin holder as we speak with over 36 billion DOGE. One armchair sleuth studied quite a few onchain transactions and suspected the corporate Robinhood owned the pockets. Now the person has researched the subject once more and claims the most recent findings assist verify the dogecoin pockets does belong to Robinhood. Alongside this, the particular person suspects Robinhood controls the third-largest bitcoin pockets as effectively.
Onchain Analysis Suggests Robinhood Not Solely Owns the Mysterious Doge Whale Pockets, however Additionally the Third-Largest BTC Pockets
Two days in the past, the Reddit account u/Andreifromalberta printed analysis that claims the corporate Robinhood (Nasdaq: HOOD) holds extra bitcoin (BTC) than the agency Microstrategy. The Redditor Andrei is identical sleuth that printed analysis 4 months in the past on the infamous dogecoin (DOGE) pockets dubbed “DH5,” which occurs to be the biggest DOGE pockets as we speak.
Again in February, Andrei posted concerning the topic because the “DH5” handle turned an extremely topical subject that month. Andrei mentioned within the r/dogecoin Reddit publish that findings counsel the corporate Robinhood is the proprietor of the “DH5” dogecoin handle and defined how onchain analysis led to this conclusion.
This previous week, the net brokerage agency Robinhood had an initial public offering (IPO) and the corporate’s CEO Vlad Tenev talked about the agency’s crypto positions in an interview on Could 6. Tenev’s statements on the Robinhood fireside chat again in Could defined that the trade allegedly offered prospects with entry to their particular holdings solely.
“We don’t have vital positions in any of the cash that we carry on a proprietary foundation or something like that,” Tenev burdened on the hearth chat. Regardless of Tenev’s statements, Andrei believes the corporate does have vital positions in quite a few crypto belongings.
Andrei’s analysis as soon as once more ties the “DH5” dogecoin handle to Robinhood, nevertheless it additionally particulars how the trade in all probability owns quite a few giant wallets from cash like BTC, ETH, and BCH. Based on Andrei’s findings, rich-list wallets from six main crypto belongings are allegedly managed by the corporate Robinhood.
Report Notes Robinhood Probably Owns A number of the Richest Addresses from 5 Completely different Blockchains
On Reddit, Andrei provides a step-by-step evaluation of why Robinhood is suspected of being the proprietor of not solely the “DH5” dogecoin handle, however the third-largest BTC address “1P5” as effectively.
Not solely that, however Andrei’s asks if Robinhood follows the very same sample of chilly storage for BTC and DOGE, “wouldn’t it additionally make sense for them to observe the identical sample for the opposite 5 Cryptos that they provide for buying and selling (ETH, LTC, BCH, ETC, BSV)?.” The armchair sleuth believes that is the case for the entire aforementioned cash and “the highest wealthy addresses belonging to Robinhood on these blockchains.”
The bitcoin (BTC) handle beginning with “1P5” holds 113,842 BTC and it began accumulating in February 2019. Coincidentally, the DH5 dogecoin handle began accumulating similtaneously the “1P5” bitcoin handle.
Andrei’s report suspects that Robinhood owns the second-largest litecoin (LTC) handle “LQT” and the second-largest bitcoin cash (BCH) handle “16N.” The fourth-biggest ethereum (ETH) handle “0x7” can also be suspected of being Robinhood’s trade pockets.
“Holding over 2 million ETH, it was seeded in exactly the same manner,” Andrei’s report provides. The Redditor additionally shared an article explaining why the richest crypto addresses are nonetheless crucial.
“Robinhood (RH) certainly owns extra BTC (116K) than Microstrategy (105K), as a custodian for RH crypto purchasers,” the Redditor concludes. “In mixture, 10+ million crypto Robinhooders are literally good cash, closely shopping for the bitcoin and crypto dip because the crash in Could. Wallets are urgently wanted to offer the liberty of self-custody to tens of millions of RH traders,” the investigator added.
What do you concentrate on the Redditor’s findings that counsel Robinhood owns all these pockets addresses? Tell us what you concentrate on this topic within the feedback part under.
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