The Arkham AI has identified a wallet containing more than $250M in assets (0x785) which potentially belongs to multi-chain L2 bridging protocol, RhinoFi. Nearly all of the wallet’s value is in 94.35K tokens of Tether Gold (XAUT), a digital token backed by physical gold issued by Tether. The wallet’s holdings represent more than 38% of the current market capitalization of Tether Gold which sits at just over $670M. 0x785 is also the currently largest holder of XAUT, even exceeding the Tether Treasury’s own holding of 65.75K XAUT tokens. In physical gold, 0x785’s holdings would weigh almost 3 tons.
The wallet was identified due to an incoming transaction from the RhinoFi Deployer address (0x341) three years ago, where 62.85K XAUT tokens, or $114.93M worth, were transferred to 0x785. Aside from this single transaction, the remaining deposits to this address originate from Bitfinex hot wallets.
Note that Arkham AI predictions are speculative and of lower confidence than official attributions.
Information provided herein is for general educational purposes only and is not intended to constitute investment or other advice on financial products. Such information is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any particular digital asset or to use any particular investment strategy. Arkham makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information on this website and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Digital assets, including stablecoins and NFTs, are subject to market volatility, involve a high degree of risk, can lose value, and can even become worthless; additionally, digital assets are not covered by insurance against potential losses and are not subject to FDIC or SIPC protections. Historical returns are not indicative of future returns.