The on-chain data platform Arkham has posted an update on the X platform, confirming that Coinbase's addresses on the blockchain hold approximately 1 million Bitcoin reserves, valued at $25 billion USD. This development solidifies Coinbase as the world's largest Bitcoin holding entity, with nearly 5% of the total Bitcoin supply, approaching the quantity believed to be held by Satoshi Nakamoto.
Arkham further states that it has identified and tagged over 36 million Bitcoin deposit and holding addresses associated with Coinbase, with the largest cold wallet holding around 10,000 BTC. According to the latest financial data, Coinbase may still possess thousands of Bitcoin that have not yet been tagged or identified.