According to the firm, 100 entities – spanning exchanges, protocols, corporations, governments, and even meme projects – collectively hold more than $1.6 trillion worth of digital assets.

Binance, Coinbase, and Satoshi Lead the Pack

Exchanges unsurprisingly dominate the top of the list. Binance alone accounts for more than $209 billion in crypto, with Coinbase following at $156 billion. Sitting in third place is the pseudonymous “Satoshi Nakamoto” cluster, representing early-mined Bitcoin addresses tracked by Arkham, worth an estimated $125 billion.

Institutional names also make a strong showing: BlackRock’s exposure tops $100 billion, while DeFi heavyweight Lido, MicroStrategy’s corporate treasury, Fidelity Custody, Grayscale, and South Korea’s Upbit exchange all rank in the top ten. Lending protocol Aave rounds out the elite group with $31.6 billion.

Surprising Players in the Rich List

Further down the rankings, the variety of entities becomes more striking. Alongside well-known venues like OKX, Kraken, and Bitfinex sit DeFi treasuries such as Arbitrum, Uniswap, Spark, and Curve. Even governments appear on the chart — the U.S. with more than $23 billion in seized crypto and the U.K. with nearly $7 billion.

READ MORE:

Bitcoin DeFi Could Eclipse Ethereum, Says Cardano Founder

Not all entries are household names. Wrapped assets like WBTC, restaking projects such as EigenLayer, and ecosystems like Ether.fi make the cut. Arkham even tracks multibillion-dollar totals tied to meme-driven platforms such as “Official Trump Meme” and pump.fun.

A Moving Target

Arkham stresses that its “rich list” doesn’t reflect static balances but rather a snapshot of aggregated addresses as of September 2, 2025. Holdings are valued against market prices on that date, meaning rankings shift constantly with inflows, outflows, and revaluations.

Still, the big picture is clear: a tiny group of entities sits atop the crypto economy with immense concentration of wealth. In a space defined by decentralization, Arkham’s findings show that influence is anything but evenly distributed.

The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

The post The World’s Biggest Crypto Whales Revealed – and They’re Not Who You Think appeared first on Coindoo.