PayPal's cryptocurrency position surges to nearly $1 billion in Q1 2023
PayPal's cryptocurrency position surges to nearly $1 billion in Q1 2023, up 56% Payments giant PayPal disclosed its cryptocurrency holdings in its quarterly report filed with the U.S. Securities and Exchange Commission (SEC). The filing said that its cryptocurrency position was $943 million as of March 31, 2023, up 56 percent from the $604 million PayPal disclosed in the previous quarter, with the largest shares being in BTC and ETH at $499 million and $362 million, respectively. In addition, PayPal reported total financial liabilities of $1.2 billion this quarter, of which crypto assets accounted for 77.9%, more than 10% higher than liabilities reported in the fourth quarter of 2022.
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