PayPal Discloses Nearly $1 Billion in Crypto Assets on Balance S

On May 9th, PayPal disclosed nearly $1 billion in cryptocurrencies on its balance sheet in a 10-Q filing with the US Securities and Exchange Commission. Specifically, it holds $943 million worth of client assets, including bitcoin, ethereum, bitcoin cash and litecoin. Compared with the $604 million in customer cryptocurrency held by PayPal at the end of 2022, the company reported an increase of $339 million in customer crypto assets.