PayPal holds $1 billion in customer cryptocurrency

Reports filed with the Securities and Exchange Commission (SEC) show that the company had nearly $1 billion in digital currency under its control as of Q1 2023. It is owned by the payment system’s customers.
Financial information was sent to the U.S. regulator in mid-spring. In addition to bitcoin, PayPal holds ether (ETH), Bitcoin Cash (BCH) and litecoin (LTC).
The company holds all of the above virtual currencies at $943 million. Compared to the previous quarter, the value of cryptocurrency increased by 56%. Bitcoin, for example, was trading at $16,547 at the end of December and rose to $28,478 by the end of the first quarter.

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