Robinhood Holds 1.493 Million ETH in its Cold Wallet
– Robinhood, the US-based investing and trading platform, owns the fifth largest Ethereum (ETH) wallet address.
– The company’s cold wallet holds 1,493,000 ETH, valued at $2.54 billion.
– Robinhood is the fifth largest holder of ETH, behind Kraken, Binance, wrapped Ether (wETH), and the Ethereum 2.0 Beacon deposit contract.
– The wallet address also holds other tokens, bringing the total value of its holdings to over $2.73 billion.
BTC, DOGE, and ETH Swap Added to Robinhood Wallet
– Robinhood recently added support for Bitcoin and Dogecoin in its wallet app.
– Users can custody, transfer, and receive BTC and DOGE using the Robinhood wallet.
– The wallet app also enables in-app swaps on the Ethereum network for over 200 tokens.
– This feature is currently available to select users but will be open to everyone soon.
Global Usage and Future Plans
– Robinhood wallet has gained widespread global usage, with users in 140 countries.
– The wallet initially supported Ethereum and Polygon, and later added Arbitrum and Optimism.
– The company is working towards including cheap and fast layer-2 chains based on demand.
– Currently available to iOS users, Android support will be added later this year.
Hot Take
Robinhood’s entry into the cryptocurrency space continues to expand, with the addition of Ethereum support and the growing size of its crypto holdings. The inclusion of Bitcoin, Dogecoin, and the ability to swap tokens on the Ethereum network shows Robinhood’s commitment to offering a diverse range of options for crypto investors. With its global usage and plans for future enhancements, Robinhood is positioning itself as a major player in the crypto industry.
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