BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

PayPal held $604M in Bitcoin and other crypto at the end of 2022

BlockNews Team by BlockNews Team
February 13, 2023
in BUSINESS, CRYPTO, MEDIA, SOCIAL
Reading Time: 3 mins read
1
SHARES
11
VIEWS
Share on XShare in TelegramShare on Reddit

BTC and ETH account for the majority of PayPal’s crypto holdings, with respective values of $291 million and $250 million in the asset breakdown.

  • The biggest payment firm in the world, PayPal, keeps a large percentage of its debt in virtual currencies it makes available to its users, including Bitcoin.
  • PayPal withheld a breakdown of its cryptocurrency assets from its most recent annual financial report.

SEC’s Annual Report

PayPal held a total of $604 million in various cryptocurrencies as of December 31, according to the annual report filed with the US Securities and Exchange Commission on February 10. These included Litecoin, Bitcoin Cash, Ether, and Bitcoin.

Bitcoin accounts for $291 million of the company’s assets, while ETH accounts for $250 million. Bitcoin contains the highest proportion of PayPal’s crypto holdings. Litecoin and Bitcoin Cash together make up the remaining $63 million.

67% of PayPal’s overall financial liabilities, or $902 million as of December 31, are made up of the value of its crypto holdings. The statement shows that PayPal’s financial portfolio was worth more than $25 billion.

Paypal’s Financial Report

Even though it added cryptocurrency support to its platform more than two years ago, PayPal’s prior annual financial report contained a different breakdown of its crypto assets.

“Due to the specific risks associated with cryptocurrencies, including technological, legal, and regulatory concerns, we identify a crypto asset safeguarding liability to represent our obligation to secure the crypto assets held for the benefit of our clients,” PayPal said in the most recent filing.

According to the company’s appeal, PayPal uses a third-party custodian to keep clients’ cryptocurrency. PayPal emphasized that, in compliance with regulatory regulations, the custodian must keep customer assets separate from proprietary or other assets. Even if the custodian abides by these contractual limits to the letter, we cannot guarantee that doing so will keep the assets out of the custodian’s estate for bankruptcy or other insolvency law.

Paypal Roadmap for Future

One of the biggest payment firms in the world, PayPal, has entered the blockchain and cryptocurrency space. In addition to providing BTC buy and sell options in select countries, PayPal launched its cryptocurrency check-out service in March 2021 to enable companies to accept cryptocurrency payments. According to reports, the company is also considering introducing PayPal Coin as its stablecoin.

In November 2020, PayPal launched its hold-and-sell service for Bitcoin in the United States. According to vice president Richard Nash, the corporation has been working hard to integrate every blockchain and cryptocurrency it can, including digital currencies issued by central banks, into its services.

The international money transfer service offered by PayPal Xoom has revealed a new facility that lets users in the United States send money directly to owners of Visa debit cards. PayPal, Xoom, and Visa worked together to make it possible for debit card holders to receive cash now from Xoom. Among the 25 countries where the feature is available are the Philippines, Sri Lanka, Thailand, Ukraine, and Vietnam.

Conclusion

The payments company has allowed customers to buy and trade cryptocurrencies since October 2020, it has only just begun to disclose specific holdings of different coins in its SEC filings. The SEC now requires this granularity due to Staff Accounting Bulletin No. 121 (SAB 121), published in March of last year. PayPal has allowed users to trade cryptocurrencies since 2020, but until June of last year, users could not withdraw their funds to other wallets.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BitcoinBTCcryptoMediaPaypal
TweetShareShare
BlockNews Team

BlockNews Team

DON'T MISS THESE! HOT OFF THE PRESS

Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important
CRYPTO

Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important

September 2, 2025
What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 
CRYPTO

What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 

September 2, 2025
Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump
CRYPTO

Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

September 2, 2025
Strategy Expands Bitcoin Treasury: 4,048 BTC Added in $449M Purchase
BITCOIN

Strategy Expands Bitcoin Treasury: 4,048 BTC Added in $449M Purchase

September 2, 2025
VeChain Price Prediction: Can VET Hit $0.035 in September 2025?
CRYPTO

VeChain Price Prediction: Can VET Hit $0.035 in September 2025?

September 2, 2025
Musk’s DOGE Treasury Push: A $200M Dogecoin Fund on the Horizon
CRYPTO

Musk’s DOGE Treasury Push: A $200M Dogecoin Fund on the Horizon

September 2, 2025
Load More

Related News

Trump Warns U.S. Could Become “Third World” Without Tariffs, Pushes for Early Supreme Court Ruling

Trump Warns U.S. Could Become “Third World” Without Tariffs, Pushes for Early Supreme Court Ruling

September 2, 2025
Donald Trump Responds to Death Rumors, Dismisses Reports as ‘So Fake’ in Strong Rebuttal

Donald Trump Responds to Death Rumors, Dismisses Reports as ‘So Fake’ in Strong Rebuttal

September 2, 2025
Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important

Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important

September 2, 2025
What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 

What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 

September 2, 2025
Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

September 2, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews