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In Q1 2023, PayPal reported a significant increase of 56% in its cryptocurrency holdings, bringing the total to nearly $1 billion

Crypto Jun 28, 2023

PayPal, the financial technology company, has revealed its cryptocurrency holdings in a recent quarterly report submitted to the United States Securities and Exchange Commission. According to the filing, as of March 31, 2023, PayPal's cryptocurrency assets amounted to $943 million, reflecting a 56% surge compared to the previous quarter's disclosure of $604 million.

The report also highlights that crypto assets accounted for 77.9% of PayPal's total financial liabilities for the quarter, which stood at $1.2 billion. This marks an increase of over 10% from the reported liabilities in the fourth quarter of 2022.

By disclosing its cryptocurrency holdings, PayPal provides transparency regarding its involvement and investment in the digital asset space. The significant growth in crypto assets demonstrates the company's continued interest and commitment to the cryptocurrency industry.

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