Robinhood, a trading app company, has been identified as the owner of the fifth-largest Ethereum address, holding 1.5 million ETH ($2.54 billion). This address also holds $177 million of other ERC-20 tokens. Arkham Intelligence, a platform that previously identified Robinhood as the owner of the third-largest Bitcoin address, made the announcement on Aug. 30. The four Ethereum addresses larger than Robinhood’s account include Ethereum’s beacon deposit contract, a wrapped Ether contract, and addresses belonging to major cryptocurrency exchanges Kraken and Binance. The beacon deposit contract is by far the largest of those addresses, with more than 29 million ETH ($49.7 billion). In addition to Ethereum, Robinhood holds funds on numerous other exchanges, including Avalanche ($29.83 million), Polygon ($1.40 million), Arbitrum ($395), and BNB Chain ($203). The funds that Robinhood holds on each of those blockchains are not entirely made up of the chain’s native token. In total, Robinhood holds $7.39 billion of crypto in those addresses as of Aug. 30. Robinhood recently announced that it will extend wallet support to Bitcoin and Dogecoin and add Ethereum swaps.

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

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	None
Companies	Kraken, Avalanche, Binance, Polygon, Robinhood
Currencies	Ethereum, Avalanche, Polygon, Bitcoin, BNB
Securities	None