Singapore’s DBS Bank holding $650M Ethereum? Nansen flags whale holdings

Nansen believes the crypto wallet already earned $200 million by holding ETH.

A crypto wallet reportedly belonging to multinational banking and financial services company DBS Bank holds over 170,000 Ether, worth nearly $650 million. 

On May 30, blockchain analysis firm Nansen flagged an Ethereum “whale” as the Singaporean banking institution. According to Nansen, they have identified the whale as DBS, one of the largest banks in Singapore. Nansen estimates that the crypto wallet has already made a profit of $200 million from holding Ether (ETH).

Cointelegraph contacted DBS Bank for comments but did not get an immediate response.

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