Robinhood, a popular stock trading platform, has been revealed to be the owner of the fifth-largest Ethereum (ETH) wallet, containing approximately $2.54 billion worth of ETH. This wallet also holds various other cryptocurrencies, such as 122,076 Bitcoin (BTC) ($3.3 billion), 34.1 trillion Shiba Inu (SHIB) ($277.8 million), 4.9 million Chainlink (LINK) ($29.7 million) and 2.6 million Avalanche (AVAX) ($29.6 million). Despite its prominence in stock trading, Robinhood’s cryptocurrency trading activity has seen a decline, with second-quarter crypto revenue dropping to $31 million from the initial quarter’s $38 million. In response to user demands, the company recently announced the expansion of its wallet product, incorporating “custodial, sending, and receiving capabilities for Bitcoin and Dogecoin,” alongside the existing feature of facilitating Ethereum swaps. The current largest Bitcoin wallets in the world, according to BitInfoCharts, are reportedly owned by Binance and Bitfinex — as Bitcoin cold wallets.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	Binance, Robinhood, Arkham Intelligence, BitInfoCharts, Bitfinex
Companies	Binance, Polygon, Robinhood, Arkham Intelligence, Bitfinex
Currencies	Ethereum, Shiba Inu, Avalanche, Bitcoin, Chainlink
Securities	None