Paypal Increased its Crypto Holdings to Almost $1B in Q1
Paypal Earnings Insight According to first quarter reports filed with the Securities and Exchange Commission ( SEC ), PayPal claimed a combined total of $943 million in crypto currency assets as of March 31, 2023. Remarkably, this was a significant increase from the previous quarter, when PayPal reported that it held around $604 million in crypto currencies. advertisement Specifically, PayPal’s crypto holdings comprise $499 million in Bitcoin (up from $291 million in December), $362 million in Ether (up from $250 million), and $82 million in Bitcoin Cash BCH and Litecoin (up from $63 million). Also, the online platform reported total financial liabilities for the quarter were $1.2 billion, with crypto assets accounting for 77.9%, indicating an increase of more than 10% from the reported Q4 liabilities for 2022. Notably, the company has been expanding its crypto currency offerings since it launched its crypto service in the United States in 2021. The se...