Coinbase Exec Suggests Kraken May Know Who Satoshi Is
The question of who Satoshi Nakamoto is remains one of the biggest mysteries in the cryptocurrency world, with various theories emerging over the years.
On this page
Conor Grogan, Coinbase’s Head of Product Business Operations, has put forward a new theory: Kraken may know Satoshi’s identity.
On February 5, Grogan shared some conclusions he reached while analyzing Bitcoin wallets linked to Nakamoto.
“My best guess is that Satoshi was last active onchain in 2014”- he wrote.
Grogan's hypothesis centers on a series of Bitcoin wallets attributed to Satoshi Nakamoto. He points out that these wallets have connections to a withdrawal address registered with CaVirtEx, a Canadian cryptocurrency exchange operational during Bitcoin's early years.
In 2016, Kraken acquired CaVirtEx, potentially inheriting its customer data. Grogan emphasized the significance of this connection, stating: “I believe this is the first documented on-chain link between a Satoshi-linked wallet and a CEX.”
If Kraken has retained KYC information related to the wallet, CEO Jesse Powell may know who Satoshi Nakamoto is, according to Grogan.
The Coinbase executive added that his advice to Powell would be to delete the data.
Patoshi Mining Pattern: a Method Grogan Used for His Research
A Bitcoin mining pattern known as the Patoshi Pattern suggests that the Bitcoin creator was responsible for mining a large percentage of the first 1 million Bitcoins. The Bitcoin mined by the Patoshi miner has never been spent, strengthening the belief that this was Satoshi’s stash.
The Patoshi Pattern provides the strongest evidence that Satoshi mined Bitcoin in the early days.
On-chain data intelligence platform Arkham tracks possible Satoshi addresses based on this pattern.
Conor Grogan used this data in his recent research. However, it’s not certain if these addresses are only linked to the real Satoshi. Grogan added that these findings reduced his confidence that Satoshi was Len Sassaman.
This is because cryptographer Len Sassaman, whose ideology matched Nakamoto’s views, passed away in 2011. Consequently, if Satoshi was last active on-chain in 2014, it excludes Sassaman from the list of top candidates.
The Bigger Picture: Bitcoin’s Future Without Satoshi
At the end of the day, does it really matter if we find out who Satoshi is? Sure, it’s one of the biggest mysteries in tech, but Bitcoin has already outgrown its creator. The network runs on its own, powered by miners, developers, and a global community that believes in decentralization.
Even if Satoshi’s identity were revealed tomorrow, it wouldn’t change how Bitcoin works – or stop people from using it.
What’s more interesting is where Bitcoin is headed. Governments are figuring out regulations, big institutions are jumping in, and new tech like the Lightning Network is making transactions faster and cheaper. The real story isn’t about Satoshi anymore – it’s about Bitcoin’s future.
So, while debates about Satoshi’s identity will probably never stop, Bitcoin keeps moving forward. Maybe that’s exactly what Satoshi wanted – disappear, let the world take over, and watch the revolution unfold. As the Bitcoin community likes to say, “We are all Satoshi.”
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
