It was revealed that Robinhood is the owner of the world's fifth largest Ethereum wallet.
According to a report by Arkham Intelligence, a cryptocurrency analysis company, Robinhood owns 1.72 million ETH, worth approximately $2.92 billion at the time of writing.
Arkham Intelligence is the same company that identified Robinhood as the owner of the world's third-largest Bitcoin wallet, holding 122,224 BTC worth approximately $3.32 billion.
The report also noted that Robinhood's wallet holds SHIB ($276.82 million), LINK ($29.98 million), AVAX ($29.66 million), COMP ($19 million), UNI ($8.16 million), AAVE ($6.16 million), and USDC ($6.16 million). He revealed that he also holds other cryptocurrencies such as $5.14 million). The total value of these coins is approximately 374 million dollars.
Since the SEC requires crypto balances on Robinhood to be backed 1:1, they consist of funds that Robinhood holds in custody for user balances.
*This is not investment advice.
