Conor Grogan’s research hints that Kraken holds critical clues about Satoshi Nakamoto, who may control over $108 billion in BTC.
By Anisha Pandey
Edited by Julia Sakovich
Updated
3 mins read
Coinbase director Conor Grogan recently suggested that Kraken might have crucial information about the true identity of Bitcoin’s elusive creator, Satoshi Nakamoto. His detailed research on X claims that Nakamoto’s wallet may have interacted with CaVirtEx, a Canadian exchange later acquired by Kraken in 2016.
In response, Kraken’s official X account posted a cryptic statement “We are all Satoshi”, sparking widespread speculation.
Grogan’s investigation suggests that Nakamoto may own 1.096 million BTC BTC $83 990 24h volatility: 0.9% Market cap: $1.67 T Vol. 24h: $25.48 B , valued at around $108 billion, potentially making him wealthier than Bill Gates. The findings include 24 recorded transfer transactions from addresses believed to be linked to Nakamoto, with the most frequent recipient being 1PYYj — an address connected to CaVirtEx. Interestingly, this address also funded 12ib, one of the largest active Bitcoin wallets holding $3 billion in BTC.
Grogan noted the potential link between CaVirtEx and Nakamoto, noting that Kraken’s acquisition of the Canadian exchange might mean that its co-founder, Jesse Powell, could have key information about Satoshi’s identity, assuming any Know Your Customer (KYC) data was retained. Grogan jokingly advised Powell to “delete the data.”
Grogan speculates that Nakamoto’s last known on-chain activity was in 2014, with 200 BTC sent to the Bitcoin faucet across two transactions. The research also casts doubt on earlier theories linking Nakamoto to prominent cryptographer and privacy advocate Len Sassaman.
“Actually, this research gives me MORE confidence that […] Satoshi is no longer active. No movement in any connected wallets through 2014 is very bullish!” Grogan noted.
It’s worth noting that Hal Finney, a pivotal figure in Bitcoin’s early development and the recipient of the first Bitcoin transaction, passed away in August 2014. Despite this, analyses have consistently debunked the theory that Finney was Nakamoto.
Kraken’s cryptic social media post added fuel to the ongoing speculation. Grogan humorously acknowledged the statement with “It’s official then”, implying Kraken may indeed know the elusive figure’s identity.
Moreover, Andy Quach, Kraken’s UK Head of Commercial, jokingly stated that this secret might be part of the company’s unique onboarding process.
As speculation continues, one thing remains clear — the true identity of Bitcoin’s creator remains one of the greatest mysteries in the world of finance and technology. Satoshi Nakamoto, who introduced Bitcoin in 2008 with the whitepaper “Bitcoin: A Peer-to-Peer Electronic Cash System”, has left behind a legacy that is now explored by several corporate and government treasuries around the world.
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With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
