The crypto-friendly platform Robinhood may own a wallet that holds 28% of the Dogecoin supply. Bloomberg writes, citing Elliptic’s research.
Analysts noted that the timing of the address creation and the wallets linked to it coincides with the launch of Dogecoin support on Robinhood. One of the пользователей Reddit reached similar conclusions.
The supposition that the address belongs to Robinhood was also supported by Tesla and SpaceX founder Elon Musk.
Sounds like it is
— Elon Musk (@elonmusk) February 16, 2021
Robinhood declined to confirm the wallet connection for operational security and customer privacy reasons.
We are not alone. Just like other crypto platforms, for operational security reasons and to protect customer privacy, we will not confirm which addresses do or do not belong to us.
— Robinhood (@RobinhoodApp) February 17, 2021
According to DogeChain, the address holds 36.8 billion coins worth over $1.8 billion at current prices.
As Musk noted, the problem was ‘too great a concentration’ of coins, and proposed to pay major Dogecoin holders if they cancel their accounts.
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