PayPal Discloses $943 Million in Cryptocurrency Holdings increased by 56% in Q1 2023 to nearly $1B

PayPal, a financial technology company, has revealed its cryptocurrency holdings in a quarterly report filing to the Securities and Exchange Commission (SEC).

As of March 31, 2023, PayPal's cryptocurrency assets totaled $943 million, a 56% increase from the previous quarter's $604 million. The report also shows that crypto assets make up 77.9% of PayPal's total financial liabilities for the quarter, up more than 10% from the previous quarter. PayPal considers its crypto assets a "safeguarding liability" due to the unique risks associated with cryptocurrencies. The company's per-share earnings also increased in the first quarter.

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