Final February the crypto neighborhood was obsessive about a selected dogecoin tackle that occurs to be the biggest dogecoin holder at the moment with over 36 billion DOGE. One armchair sleuth studied various onchain transactions and suspected the corporate Robinhood owned the pockets. Now the person has researched the subject once more and claims the newest 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 at the moment.
The Reddit publish the Redditor u/Andreifromalberta posted again in February 2021.
Again in February, Andrei posted concerning the topic because the “DH5” tackle turned an especially topical topic that month. Andrei mentioned in the r/dogecoin Reddit publish that findings recommend the corporate Robinhood is the proprietor of the “DH5” dogecoin tackle and defined how onchain analysis led to this conclusion.
The Reddit publish on r/bitcoin from the Redditor u/Andreifromalberta posted two days in the past reveals a rating of latest findings.
This previous week, the net brokerage agency Robinhood had an preliminary public providing (IPO) and the corporate’s CEO Vlad Tenev talked concerning the agency’s crypto positions in an interview on Could 6. Tenev’s statements on the Robinhood hearth chat again in Could defined that the change allegedly supplied 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 various crypto belongings.
Andrei’s analysis as soon as once more ties the “DH5” dogecoin tackle to Robinhood, nevertheless it additionally particulars how the change in all probability owns various 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 Possible Owns Among 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 tackle, however the third-largest BTC tackle “1P5” as effectively.
The Redditor, Andrei, believes the third-largest bitcoin (BTC) tackle belongs to Robinhood. The pockets was established across the identical time interval the “DH5” dogecoin tackle was created.
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 comply with 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) tackle beginning with “1P5” holds 113,842 BTC and it began accumulating in February 2019. Coincidentally, the DH5 dogecoin tackle began accumulating concurrently the “1P5” bitcoin tackle.
Andrei’s report suspects that Robinhood owns the second-largest litecoin (LTC) tackle “LQT” and the second-largest bitcoin money (BCH) tackle “16N.” The fourth-biggest ethereum (ETH) tackle “0x7” can also be suspected of being Robinhood’s change pockets.
“Holding over 2 million ETH, it was seeded in precisely the identical method,” Andrei’s report provides. The Redditor additionally shared an article explaining why the richest crypto addresses are nonetheless essential.
“Robinhood (RH) certainly owns extra BTC (116Okay) than Microstrategy (105Okay), as a custodian for RH crypto shoppers,” 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 present the liberty of self-custody to tens of millions of RH traders,” the investigator added.
What do you consider the Redditor’s findings that recommend Robinhood owns all these pockets addresses? Tell us what you consider this topic in the feedback part under.