PayPal, the online payments giant, held almost $1 billion worth of cryptocurrency on its balance sheet by the end of Q1 2023, according to a filing with the SEC. The filing showed that PayPal held $943 million worth of customers' Bitcoin, Ethereum, Bitcoin Cash, and Litecoin on its balance sheet as of that time. PayPal allows customers to buy, sell, receive, send, and hold cryptocurrencies, and use the proceeds from their sales to purchase goods and services at checkout. The company also fully protects customers from unauthorized crypto purchases or sales, and from unauthorized crypto transfers up to $50,000 lifetime.
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PayPal Holds Nearly $1 Billion Worth of Cryptocurrency on Balance Sheet by End of Q1 2023, According to SEC Filing
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Exowatt completes $20 million financing, a16z participates in the investment
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