Crypto Twitter is abuzz with news that one of the whales holding Pepe (PEPE) memecoin might be the investment giant BlackRock Fund.
The speculation started when a wallet labeled BlackRock withdrew 1.27 trillion in PEPE tokens worth $1.98 million from Binance to four addresses on May 18, according to Lookonchain.
The four addresses used the same Binance deposit address named blackrock3.eth. The on-chain sleuth suggested that the addresses were likely created by the investment firm and the world’s biggest asset manager, BlackRock.
Lookonchain further noted that the BlackRock Fund bought 1 trillion units of PEPE for $244 on April 21 and sold all the tokens for $2.63 million on May 5 — making a profit of $2.39 million from the trade.
CryptoSlate could not confirm if the wallet belonged to the investment firm.
BlackRock is the largest asset manager in the world, with around $10 trillion in assets under management as of January 2022.
The firm already had some exposure to crypto through i
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