Blockchain analysis firm Nansen has identified DBS Bank, one of Singapore’s largest banking institutions, as a cryptocurrency whale.
According to Nansen, a crypto wallet reportedly owned by DBS Bank holds 173,753 Ether (ETH), valued at around $650 million at the current market price.
DBS Sitting on a $200M Profit?
Nansen’s analysis states that the address, flagged on May 30, has already generated a paper profit of $200 million from its Ether holdings.
We’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’23
This address has made over $200m by holding ETH… 🤯
Track the address on Nansen here: 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e pic.twitter.com/2rkM3cZ6gJ
— Nansen 🧭 (@nansen_ai) May 30, 2024
While DBS Bank has not officially confirmed ownership of the ETH, a community member suggested that the assets…
