Final February the crypto group was obsessive about a particular dogecoin tackle that occurs to be the most important dogecoin holder at the moment 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 revealed analysis that claims the corporate Robinhood (Nasdaq: HOOD) holds extra bitcoin (BTC) than the agency Microstrategy. The Redditor Andrei is similar sleuth that revealed analysis 4 months in the past on the infamous dogecoin (DOGE) pockets dubbed “DH5,” which occurs to be the most important DOGE pockets at the moment.
Again in February, Andrei posted in regards to the topic because the “DH5” tackle turned an extremely topical subject that month. Andrei mentioned within 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.
This previous week, the web 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 Might 6. Tenev’s statements on the Robinhood fireside chat again in Might defined that the trade allegedly offered prospects with entry to their particular holdings solely.
“We don’t have important positions in any of the cash that we carry on a proprietary foundation or something like that,” Tenev pressured on the hearth chat. Regardless of Tenev’s statements, Andrei believes the corporate does have important positions in quite a few crypto belongings.
Andrei’s analysis as soon as once more ties the “DH5” dogecoin tackle to Robinhood, however it additionally particulars how the trade most likely owns quite a few giant wallets from cash like BTC, ETH, and BCH. In keeping with Andrei’s findings, rich-list wallets from six main crypto belongings are allegedly managed by the corporate Robinhood.
Report Notes Robinhood Seemingly Owns A few 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 tackle, 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 all the 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 cash (BCH) tackle “16N.” The fourth-biggest ethereum (ETH) tackle “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 essential.
“Robinhood (RH) certainly owns extra BTC (116K) than Microstrategy (105K), as a custodian for RH crypto purchasers,” the Redditor concludes. “In combination, 10+ million crypto Robinhooders are literally sensible cash, closely shopping for the bitcoin and crypto dip because the crash in Might. Wallets are urgently wanted to present the liberty of self-custody to tens of millions of RH buyers,” 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 within the feedback part beneath.
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