Arkham Reveals the World’s Biggest Crypto Whales in 2025: Binance, Coinbase, Satoshi Nakamoto and More

Arkham Intelligence has unveiled its latest rankings of the world’s largest crypto holders.

Top exchanges, institutions, major protocols, corporations, and early adopters are all in the list, reflecting a diverse mix of players. 

In the list, Arkham has grouped wallets that belong to the same person, company, protocol, or exchanges, into entities. This provides a clearer view of an entity’s total holdings and its real influence in the crypto market. Together, these entities control roughly $1.6 trillion in crypto. 

The Top Crypto Holders

Binance tops the list with over $209 billion worth of crypto. Right behind is Coinbase, the U.S.-based exchange, with more than $155 billion in crypto. Satoshi Nakamoto, Bitcoin’s pseudonymous creator, stands at number three, with over $125 billion in Bitcoin. 

In the top five, is BlackRock, the world’s largest asset manager, with over $100 billion in crypto exposure. Fidelity Custody and Grayscale are in the top 10 with $47.5 billion and $34 billion in crypto holdings. MicroStrategy, the Bitcoin treasury giant has amassed more than $53 billion worth of BTC.

Exchanges, DeFi Protocols, Governments, and Major Crypto Players

South Korea’s leading exchange, Upbit, has over $32 billion in crypto. Major exchanges like OKX, Kraken, and Bitfinex each hold over $30 billion in crypto. Meanwhile, decentralised protocols, Lido and Aave hold nearly $70 billion and over $31 billion in crypto.

Governments are also in the list with the U.S holding about $23 billion in crypto, while the U.K. controls around $6.9 billion. Other notable entities on the list include projects like Pump.fun with $3.3 billion, Mt. Gox with $3.9 billion and key networks such as Polygon with $10.6 billion. The Official Trump Meme also holds over $7 billion in crypto. 

Tron founder Justin Sun and Winklevoss Capital also hold over $2 billion each in crypto.

Corporate Crypto Treasuries

Publicly traded companies collectively hold over 1 million BTC. Companies are not just investing in Bitcoin, they are increasingly exploring other cryptocurrencies as well. Ethereum treasuries are also gaining strength with entities now holding 4.91 million ETH. Solana, Dogecoin, and BNB Coin are also held by companies in their treasuries.

This data highlights the growing diversity of crypto holders, from exchanges and DeFi protocols to governments, early investors, and corporate treasuries. While Bitcoin continues to dominate, entities are also diversifying into Ethereum and other tokens.