{"id":73931,"date":"2023-02-10T17:55:27","date_gmt":"2023-02-10T15:55:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73931"},"modified":"2025-09-09T17:08:53","modified_gmt":"2025-09-09T14:08:53","slug":"paypal-customers-bought-604-million-in-cryptocurrency","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/paypal-customers-bought-604-million-in-cryptocurrency\/","title":{"rendered":"PayPal customers bought $604 million in cryptocurrency"},"content":{"rendered":"

The value of customer-held digital assets on PayPal’s balance sheet at the end of 2022 was $604 million. Such data are contained in theannual report<\/a> for the SEC<\/span>.<\/p>\n

Of this amount, $291 million went to Bitcoin, $250 million to Ethereum, the remaining $63 million to Bitcoin Cash and Litecoin. The company did not disclose specific figures for the latter.<\/p>\n

By the end of September, the total cryptocurrency position amounted to $690 million<\/a>.<\/p>\n

Disclosures of such information became mandatory<\/a> since March 2022.<\/p>\n

In November 2020, PayPal opened access to cryptocurrencies<\/a> directly through user accounts in the United States.<\/p>\n

In April 2021 the company added support<\/a> for Bitcoin, Ethereum, Litecoin and Bitcoin Cash in its mobile payment service Venmo. At that time, PayPal CEO Dan Schulman noted<\/a> that demand for digital assets exceeded expectations.<\/p>\n

In March 2022, PayPal’s head expressed confidence that cryptocurrencies and blockchain will revolutionize<\/a> the financial system.<\/p>\n

In August, the company added the ability<\/a> to buy, sell and transfer digital assets through its mobile app.<\/p>\n

In February 2023, it was reported that PayPal would lay off around 2,000 employees<\/a> \u2014 about 7% of its workforce.<\/p>\n","protected":false},"excerpt":{"rendered":"

The value of customer-held digital assets on PayPal’s balance sheet at the end of 2022 was $604 million. Such data are contained in the company’s annual report to the SEC.<\/p>\n","protected":false},"author":1,"featured_media":73932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,182,1211],"class_list":["post-73931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-paypal","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=73931"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73931\/revisions"}],"predecessor-version":[{"id":73933,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73931\/revisions\/73933"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73932"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}