{"id":10276,"date":"2021-07-30T20:54:06","date_gmt":"2021-07-30T20:54:06","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/report-suggests-robinhood-owns-largest-dogecoin-address-and-third-largest-btc-wallet\/"},"modified":"2021-07-30T20:54:06","modified_gmt":"2021-07-30T20:54:06","slug":"report-suggests-robinhood-owns-largest-dogecoin-address-and-third-largest-btc-wallet","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/report-suggests-robinhood-owns-largest-dogecoin-address-and-third-largest-btc-wallet\/","title":{"rendered":"Report Suggests Robinhood Owns Largest Dogecoin Address and Third-Largest BTC Wallet"},"content":{"rendered":"

Last February the crypto community was obsessed with a specific dogecoin address that happens to be the largest dogecoin holder today with over 36 billion DOGE. One armchair sleuth studied a number of onchain transactions and suspected the company Robinhood owned the wallet. Now the individual has researched the topic again and claims the latest findings help confirm the dogecoin wallet does belong to Robinhood. Alongside this, the person suspects Robinhood controls the third-largest bitcoin wallet as well.<\/strong><\/p>\n

Onchain Research Suggests Robinhood Not Only Owns the Mysterious Doge Whale Wallet, but Also the Third-Largest BTC<\/a> Wallet<\/h2>\n

Two days ago, the Reddit account u\/Andreifromalberta<\/a> published research that claims the company Robinhood (Nasdaq: HOOD<\/a>) holds more bitcoin (BTC)<\/a> than the firm Microstrategy. The Redditor Andrei is the same sleuth that published research four months ago on the notorious dogecoin (DOGE)<\/a> wallet dubbed \u201cDH5,\u201d which happens to be the largest DOGE<\/a> wallet today.<\/p>\n

The Reddit post the Redditor u\/Andreifromalberta posted back in February 2021.<\/p>\n

Back in February, Andrei posted<\/a> about the subject as the \u201cDH5\u201d address became an extremely topical subject<\/a> that month. Andrei said in the r\/dogecoin Reddit post that findings suggest the company Robinhood is the owner of the \u201cDH5\u201d dogecoin address and explained how onchain research led to this conclusion.<\/p>\n

The Reddit post on r\/bitcoin from the Redditor u\/Andreifromalberta posted two days ago shows a score of new findings.<\/p>\n

This past week, the online brokerage firm Robinhood had an initial public offering (IPO)<\/a> and the company\u2019s CEO Vlad Tenev talked about<\/a> the firm\u2019s crypto positions in an interview on May 6. Tenev\u2019s statements at the Robinhood fireside chat<\/a> back in May explained that the exchange allegedly provided customers with access to their specific holdings only.<\/p>\n

\u201cWe don\u2019t have significant positions in any of the coins that we keep on a proprietary basis or anything like that,\u201d Tenev stressed at the fireside chat. Despite Tenev\u2019s statements, Andrei believes the company does have significant positions in a number of crypto assets.<\/p>\n

Andrei\u2019s research once again ties the \u201cDH5\u201d dogecoin address to Robinhood, but it also details how the exchange probably owns a number of large wallets from coins like BTC<\/a>, ETH<\/a>, and BCH<\/a>. According to Andrei\u2019s findings, rich-list wallets from six major crypto assets are allegedly controlled by the company Robinhood.<\/p>\n

<\/p>\n

Report Notes Robinhood Likely Owns Some of the Richest Addresses from 5 Different Blockchains<\/h2>\n

On Reddit, Andrei gives a step-by-step analysis of why Robinhood is suspected of being the owner of not only the \u201cDH5\u201d dogecoin address, but the third-largest BTC address \u201c1P5\u201d<\/a> as well.<\/p>\n

The Redditor, Andrei, believes the third-largest bitcoin (BTC<\/a>) address belongs to Robinhood. The wallet was established around the same time period the \u201cDH5\u201d dogecoin address was created.<\/p>\n

Not only that, but Andrei\u2019s asks if Robinhood follows the exact same pattern of cold storage for BTC<\/a> and DOGE, \u201cwouldn\u2019t it also make sense for them to follow the same pattern for the other 5 Cryptos that they offer for trading (ETH<\/a>, LTC<\/a>, BCH<\/a>, ETC<\/a>, BSV<\/a>)?.\u201d The armchair sleuth believes this is the case for all of the aforementioned coins and \u201cthe top rich addresses belonging to Robinhood on those blockchains.\u201d<\/p>\n

The bitcoin (BTC)<\/a> address starting with \u201c1P5\u201d holds 113,842 BTC<\/a> and it started accumulating in February 2019. Coincidentally, the DH5 dogecoin address started accumulating at the same time as the \u201c1P5\u201d bitcoin address.<\/p>\n

Andrei\u2019s report suspects that Robinhood owns the second-largest litecoin (LTC)<\/a> address \u201cLQT<\/a>\u201d and the second-largest bitcoin cash (BCH)<\/a> address \u201c16N<\/a>.\u201d The fourth-biggest ethereum (ETH)<\/a> address \u201c0x7<\/a>\u201d is also suspected of being Robinhood\u2019s exchange wallet.<\/p>\n

\u201cHolding over 2 million ETH<\/a>, it was seeded in exactly the same manner<\/a>,\u201d Andrei\u2019s report adds. The Redditor also shared an article explaining why the richest crypto addresses are still very important.<\/p>\n

\u201cRobinhood (RH) indeed owns more BTC<\/a> (116K) than Microstrategy (105K), as a custodian for RH crypto clients,\u201d the Redditor concludes. \u201cIn aggregate, 10+ million crypto Robinhooders are actually smart money, heavily buying the bitcoin and crypto dip since the crash in May. Wallets are urgently needed to give the freedom of self-custody to millions of RH investors,\u201d the investigator added.<\/p>\n

What do you think about the Redditor\u2019s findings that suggest Robinhood owns all these wallet addresses? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nFeatured, 3rd Largest BTC wallet, 5 Different Blockchains, Andrei, Armchair detectives, Armchair Sleuth, Bitcoin, BTC, DOGE Rich List, fireside chat, Largest Wallet, Mysterious DOGE wallet, Mystery DOGE address, Nasdaq: HOOD, redditor, Richlist, Robinhood, Robinhood CEO, third-largest, u\/Andreifromalberta, Vlad Tenev<\/p>\n","protected":false},"excerpt":{"rendered":"

Last February the crypto community was obsessed with a specific dogecoin address that happens to be the largest dogecoin holder today with over 36 billion DOGE. One armchair sleuth studied a number of onchain transactions and suspected the company Robinhood owned the wallet. Now the individual has researched the topic again and claims the latest…<\/p>\n","protected":false},"author":0,"featured_media":10277,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10276"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10276"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10277"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}