{"id":13933,"date":"2024-05-30T14:50:47","date_gmt":"2024-05-30T11:50:47","guid":{"rendered":"https:\/\/forklog.com\/en\/nansen-unveils-cryptocurrency-holdings-of-singapores-largest-bank\/"},"modified":"2024-05-30T14:50:47","modified_gmt":"2024-05-30T11:50:47","slug":"nansen-unveils-cryptocurrency-holdings-of-singapores-largest-bank","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/nansen-unveils-cryptocurrency-holdings-of-singapores-largest-bank\/","title":{"rendered":"Nansen Unveils Cryptocurrency Holdings of Singapore&#8217;s Largest Bank"},"content":{"rendered":"<p>Analytics firm Nansen has linked an <a href=\"https:\/\/app.nansen.ai\/wallet-profiler?address=0x9e927c02c9eadae63f5efb0dd818943c7262fb8e&#038;chain=ethereum&#038;tab=overview\">Ethereum whale address<\/a>, which holds 173,700 ETH valued at $650 million, to DBS Bank, Singapore&#8217;s largest bank.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We&#8217;ve identified this $650m <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> Whale holding 173.7k ETH as DBS, the largest bank in Singapore with assets totaling S$739 billion as of 31 Dec&#8217;23<\/p>\n<p>This address has made over $200m by holding ETH\u2026 ?<\/p>\n<p>Track the address on Nansen here: 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e <a href=\"https:\/\/t.co\/2rkM3cZ6gJ\">pic.twitter.com\/2rkM3cZ6gJ<\/a><\/p>\n<p>\u2014 Nansen ? (@nansen_ai) <a href=\"https:\/\/twitter.com\/nansen_ai\/status\/1796087551486554590?ref_src=twsrc%5Etfw\">May 30, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to researchers, as of December 31, 2023, DBS holds assets worth 739 billion <span data-descr=\"Singapore dollars\" class=\"old_tooltip\">SGD<\/span> (~$547 billion). <\/p>\n<p>Nansen claims the bank has earned approximately $200 million from the second-largest cryptocurrency by market capitalization.<\/p>\n<p>DBS has long been a proponent of digital assets. In 2021, the financial company launched the DDEx cryptocurrency trading platform in Singapore, aimed at institutional investors. <\/p>\n<p>In the same year, the Monetary Authority of Singapore granted the bank &#8220;in-principle&#8221; approval to provide cryptocurrency services. <\/p>\n<p>A user by the nickname kirbyong.sismo noted that DBS has a digital asset exchange for accredited investors, suggesting that the ETH likely represents client funds rather than the bank&#8217;s own investments.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">DBS has a digital exchange for accredited investors which has been live for awhile, it\u2019s likely ETH held on behalf of these investors and not bank investments <a href=\"https:\/\/t.co\/8P1XDWHML3\">https:\/\/t.co\/8P1XDWHML3<\/a><\/p>\n<p>\u2014 kirbyong.sismo.eth ??\u200d\u2642\ufe0f (@kirbyongeo) <a href=\"https:\/\/twitter.com\/kirbyongeo\/status\/1796099772631151060?ref_src=twsrc%5Etfw\">May 30, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Back in July 2023, DBS Bank added support for the digital yuan. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analytics firm Nansen has linked an Ethereum whale address, which holds 173,700 ETH valued at $650 million, to DBS Bank, Singapore&#8217;s largest bank. We&#8217;ve identified this $650m $ETH Whale holding 173.7k ETH as DBS, the largest bank in Singapore with assets totaling S$739 billion as of 31 Dec&#8217;23 This address has made over $200m by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1572,946],"class_list":["post-13933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-dbs","tag-singapore"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=13933"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/13932"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=13933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=13933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=13933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}