@BitcoinBaby
Binance is claiming that they are holding 475k BTC which makes sense with the past data where they had 623,000 Bitcoins as of August. But Coinbase was measured to have 560,000 BTC in August of this year and is now claiming to hold 2 million BTC that is more than 10% of the BTC total. I find that hard to believe, knowing a part is lost forever, and knowing how CEX´s operate. It feels a little bit much. BTW 40% of Binance its Holding are in BNB and their BUSD ......was that not what F´ed up things for FTX- Holding too much of your own supply?
2 comments
YES! 2 million seems really over-the-top
part of the 2 mill could be Grayscales Bitcoin Trusts 600+K BTC they have in Custody. Which was supposed to 3.5% of supply. That leaves 1/3 for retail and other 1/3 institutional. Not unreasonable.