Is this true? So that makes coinbase the largest holder of btc? #true #coinbase #largest #holder #btc


Is this real? So that can make coinbase the major holder of btc?

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Comments (31)

  • cryptolipto Reply

    It’s literally called Coinbase Custody. They hold it for their customers

    November 25, 2022 at 10:23 am
  • Rtbrosk Reply

    it makes sense since they are a custodian from many institutions

    November 25, 2022 at 10:23 am
  • Zealousideal_Coat275 Reply

    Coin base appears to have almost no material exposure to crypto prices on their balance sheet. Obviously a lot of exposure to volume in their revenue prospects.

    I think when I looked at it it was something like $300mm in their own crypto assets and over $6bn in cash and less than $6bn in liabilities.

    Now that assumes that they aren’t doing crazy shit with deposits they hold for customers…

    November 25, 2022 at 10:23 am
  • I_am_Searching Reply

    Reserves is a misleading term. The chart posted here: https://twitter.com/brian_armstrong/status/1595126425371414528?t=LiYskPDjLuWcgb7MmB-apQ&s=19 shows how many BTC all of coinbase’s customers hold.

    November 25, 2022 at 10:23 am
  • Big-Spiff Reply

    It is the base of coins

    November 25, 2022 at 10:23 am
  • uncommonname17 Reply

    For years on crypto twitter when I try to explain to people that coinbase it the largest custody provider in the world I get into these arguments with people who can’t understand that I am referring to something other than retail leaving coins on the exchange. They have an actual, real custody business. It just does custody. Like Bitgo or the other custody providers.

    November 25, 2022 at 10:23 am
  • marlinmarlin99 Reply

    Hacking Coinbase would be hackers dream.

    November 25, 2022 at 10:23 am
  • ipassedthe65 Reply

    Yeah, that has been well known for some time.

    It’s also why their stock follows the BTC price so much

    If BTC goes to 100K next cycle. Don’t be surprised if that stock is $400 to 500

    The shares trade a lot like crypto

    November 25, 2022 at 10:23 am
  • Medfried Reply

    Total. Not their reserves..

    November 25, 2022 at 10:23 am
  • AvariceAndApocalypse Reply

    Wow. Crazy that over 10% of all of the bitcoin supply is in one exchange.

    November 25, 2022 at 10:23 am
  • SmoothGoing Reply

    No. It isn’t their BTC.

    November 25, 2022 at 10:23 am
  • evilninjarobot Reply

    Mega flex

    November 25, 2022 at 10:23 am
  • Rey_Mezcalero Reply

    Whoa! Guess only their hairstylist really knows

    November 25, 2022 at 10:23 am
  • mind_on_crypto Reply

    They are custodying more crypto than anyone else (including for some major institutional investors). And their latest financial statement shows that their customers’ assets are backed 1:1. Add it up and you get a boatload of BTC.

    November 25, 2022 at 10:23 am
  • MNM2884 Reply

    At all time high that was somewhere around 500B

    November 25, 2022 at 10:23 am
  • GlitteringAd6388 Reply

    Now we need those numbers from CZ, think he deserves to come out of the shadows with his figures now. Don’t trust that guy.

    November 25, 2022 at 10:23 am
  • Brave-Ad-5364 Reply

    At least now they know from FTX experience, they can ‘lose’ it and, “no big deal”. Just say sorry and buy some houses.

    November 25, 2022 at 10:23 am
  • Double-LR Reply

    One exchange, forged in the fires under mt(crypto) Doom, the hand of Sauron the great crafted this one to find them, and in the dark to bind them, one, to rule them all.

    Holy fuck CB, save some for the rest of us. Shittin on all the other CEX wondering if they should show their cards. This is like a literal bitch slap to all the others.

    November 25, 2022 at 10:23 am
  • the_remeddy Reply

    If Coinbase fails, it probably takes the industry down with it, or at least sets it back so many years that it almost doesn’t matter. It’s got an incredible interest in starting solvent and not f’ing this up.

    November 25, 2022 at 10:23 am
  • Reasonable_City Reply

    10% of all BTC is on coinbase?! Satoshi, help us all!

    November 25, 2022 at 10:23 am
  • wiinintendontcare Reply

    Well, think about it, coinbase has been playing the long game. Marketed heavy when they went public, and have made some pretty good moves in comparison to other exchanges.

    November 25, 2022 at 10:23 am
  • Severe_Airport1426 Reply

    That’s the way it should be. If everyone wants to sell their btc, it’s there for them and coinbase won’t crash returning people’s funds.

    November 25, 2022 at 10:23 am
  • shravan592 Reply

    To all those who are arguing it’s not coinbase’s bitcoins, remember not your keys, not your coins.

    November 25, 2022 at 10:23 am
  • mpday20 Reply

    Maybe a noob question, but does this mean that customers bought and actually ‘left’ 2 million Bitcoin on the exchange?

    November 25, 2022 at 10:23 am
  • hyperinflationUSA Reply

    This why you don’t want want Proof Of Stake like other altcoins. The centralized ownership leads to centralized control with those due to large exchanges owning majority of coins

    November 25, 2022 at 10:23 am
  • bpg2001bpg Reply

    Update Coinbase actually holds 22 million Bitcoin in reserves.

    November 25, 2022 at 10:23 am
  • kzx-kzx Reply

    Makes their stock ridiculously undervalued

    November 25, 2022 at 10:23 am
  • tonytdmd Reply

    Wait, how many have been mined so far?

    November 25, 2022 at 10:23 am
  • Ok-Ship-2209 Reply

    No keys? Not your coin.

    November 25, 2022 at 10:23 am
  • edwardsj1993 Reply

    If you hold Bitcoin on Coinbase or any other exchange pull it off. Crypto and stock exchanges have proven that customers do not control their own assets the exchange does. Day trading on exchanges is not investing it’s gambling with extra steps.

    November 25, 2022 at 10:23 am
  • BerryMas0n Reply

    it could be all/part-of customer funds. Their liabilities could be significantly bigger.

    November 25, 2022 at 10:23 am

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