Binance cold wallet is largest single BTC address, holding 248,598 BTC

A cold wallet address managed by Binance, beginning with 34xp4, holds 248,598 BTC, making it the largest single Bitcoin address, Crypto Briefing reported, citing Arkham data. According to Arkham, the holdings accounted for about 1.24% of Bitcoin’s circulating supply at the time. Bitcoin began flowing into the address in October 2018, and a total of 5,531 deposits had been recorded as of July 4. No withdrawals have occurred from the address since Jan. 7, 2023. The report added, however, that the BTC does not necessarily all belong to Binance itself, as it may include customer assets held by the exchange.