PayPal had crypto worth $ 60 million last year

PayPal had crypto worth $ 60 million last year
by the end of 2022 PayPal, on behalf of its users, kept over $ 600 million of digital assets in crypto.
included $ 291 million in Bitcoin (BTC) and $ 250 million in ETH.
- annual report According to the securities and Exchange commission, the rest of its 63 million dollar became in Crypto between Bitcoin Cash (BCH) and Litecoin (LTC) distributed. The company held a total of $ 604 million in digital assets.
- expressed in dollars, this is less than what the company held in the third quarter-as the price of Bitcoin was around $ 19,400. The collapse of FTX followed about a month later, which dropped the value of the assets to $ 16,600 each.
- The assets belonged to customers who used PayLet service from PayPal, with which customers can buy, sell and maintain cryptocurrencies. In June, the company started allow users can withdraw their Bitcoin and Ethereum in external wallets.
- The executives of PayPal, including CEO Dan Schulman and co-founder Peter Thiel, are largely optimistic about digital assets. The previous believes stablecoins, CBDCs and digital wallets have the power to revolutionize the latter as an alternative to central banking, as we know it.
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