PayPal Holds Nearly $1B of Crypto Assets on Balance Sheet

PayPal held $943 million worth of customer assets in cryptocurrency on its balance sheet, making up 77.9% of its total liability, according to the 10-Q filing with the US Securities and Exchange Commission PayPal filed recently.

Most of the cryptocurrency PayPal holds is Bitcoin ($499 million) and Ether ($362 million). Bitcoin Cash and Litecoin are also included. The report shows that compared with the end of 2022, PayPal customers' crypto assets increased by $339 million.

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