Coinbase Jumps to #3 on XRP Rich List After Labeling Error

A recent blockchain data platform update revealed that Coinbase has acquired 5.5 billion XRP tokens, sending shockwaves through the crypto community.

However, further investigation showed that this massive acquisition was not a transfer of funds, but rather a labeling error by the platform.

The real reason behind the sudden change on the XRP rich list was that 146 previously unknown wallets were identified and labeled as Coinbase-owned, causing the exchange to jump from #7 to #3 in the list.

This update has shed light on Coinbase's XRP reserves, showing that they have over 355 accounts filled with XRP tokens, which is more than 5.80% of all available XRP ownership.