Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Nansen Uncovers DBS Bank’s $650 Million Ether Holdings

Nansen Uncovers DBS Bank’s $650 Million Ether Holdings

DailycoinDailycoin2024/05/30 18:37
By:Dailycoin
  • Nansen has unmasked a new Ether whale.
  • The whale is a leading bank in Singapore.
  • The bank has made over $200M so far by holding ETH.

DBS Bank Ltd, Singapore’s largest banking corporation, is an Ether whale with hundreds of millions in ETH holdings, on-chain analytics firm Nansen reported on Thursday.

Originally known as The Development Bank of Singapore Limited, DBS has over 250 subsidiaries in Southeast Asia, where it is active in 17 markets. As of 31 December 2024, the bank’s assets totaled $739 billion.

DBS Bank’s Ether Holdings

In an X (Twitter) post on May 30, the Nansen team said that it had identified DBS bank as the alleged owner of an ETH whale wallet holding 173,753 Ether, worth over half a billion at press time.

Sponsored

“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,” Nansen wrote.

While Nansen’s revelation of DBS’s alleged Ether holdings is intriguing, the bank is not a newbie in crypto.

Besides offering digital asset custody services, DBS has branched out into cryptocurrencies through a trading exchange for security tokens and a portfolio management app for both traditional and DeFi assets.

Read More

DBS has also been synonymous with government-related Web3 projects in Singapore, including Project Guardian, which facilitated the successful acquisition of a tokenized version of the Singapore dollar using tokenized Japanese yen.

Sponsored

Other blockchain and Web3 initiatives DBS has participated in include Project Orchid for government vouchers and a cross-border e-Chinese yuan transaction test for shipments between Singapore and India.

Read about the approval of spot Ether ETFs by the U.S. SEC:
BREAKING: SEC Approves All Spot Ether ETFs in Total Pivot

Stay updated on why Ether ETFs might not mirror Bitcoin’s success:
Why Ethereum Spot ETFs Will Not Mirror Bitcoin’s Success

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Altcoins Gear Up for Profitable Rally

Altcoin holders could be in for major gains as market sentiment turns bullish.Altcoin Holders Anticipate Major GainsWhat’s Fueling the Altcoin Rally?Time to Watch the Altcoin Market Closely

Coinomedia2025/05/10 23:44
Altcoins Gear Up for Profitable Rally

Best Cryptos to Buy Now: Why Qubetics, Cardano, and Toncoin Are Dominating 2025’s Blockchain Revolution

Explore why Qubetics, Cardano, and Toncoin are the best cryptos to buy now in 2025, with groundbreaking innovations and real-world applications.Qubetics ($TICS): Bridging Real-World Assets with BlockchainCardano (ADA): Pioneering Sustainable Blockchain SolutionsToncoin (TON): Revolutionizing Digital InteractionsUnderstanding Real World Asset TokenizationConclusion

Coinomedia2025/05/10 23:44
Best Cryptos to Buy Now: Why Qubetics, Cardano, and Toncoin Are Dominating 2025’s Blockchain Revolution

Best Crypto to Buy Now: Final Chance to Buy Troller Cat at $0.0000072 Before 20% Jump as Notcoin and Brett Break Out

Troller Cat enters Stage 3 with 69% APY and 7,000% ROI potential while Notcoin and Brett rally.Troller Cat ($TCAT): Staking, Strategy, and Serious GainsNotcoin ($NOT): Massive Community, Real-Time MomentumBrett ($BRETT): Base Chain’s Loudest VoiceConclusion: Which Project Offers the Best Entry Point?

Coinomedia2025/05/10 23:44
Best Crypto to Buy Now: Final Chance to Buy Troller Cat at $0.0000072 Before 20% Jump as Notcoin and Brett Break Out

James Wynn’s $46.5M Hyperliquid Trading Streak

James Wynn earns $46.5M in under 2 months on Hyperliquid with high-leverage trades on BTC, PEPE, TRUMP, and more.The Rise of a Trading LegendUnrealized Profits Tell the StoryWhat Makes Wynn’s Strategy Stand Out?

Coinomedia2025/05/10 23:44
James Wynn’s $46.5M Hyperliquid Trading Streak