Share this article
PayPal Held $604M of Customers' Crypto as of Year-End 2022
The payments company held $291 million of bitcoin and $250 million of ether, with the rest comprising litecoin and bitcoin cash.
Updated May 9, 2023, 4:07 a.m. Published Feb 10, 2023, 12:57 p.m.
PayPal (PYPL) held a total of $604 million of bitcoin , ether , and for its customers as of Dec. 31, according to its annual report to the U.S. Securities and Exchange Commission (SEC).
Almost 90% of the amount was divided between the two largest cryptocurrencies by market value: $291 million in BTC and $250 million in ETH. The remaining $63 million is made up of LTC and BCH. PayPal did not provide a breakdown of the two.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The figure compares with $690 million held as of the end of September, and corresponds to a period that saw sharp declines in crypto valuations following the collapse of exchange FTX.
The payments company has been allowing customers to buy and sell crypto since October 2020, though has only recently begun to disclose specific holdings of different coins in its SEC filings. This granularity is now required by the SEC as per Staff Accounting Bulletin No. 121 (SAB 121), introduced in March last year.
Despite offering crypto trading since 2020, PayPal did not allow its users to withdraw coins off the platform to external wallets until June last year.
Read more: PayPal Working With Crypto Wallet MetaMask to Offer Easy Way to Buy Crypto
UPDATE (Feb. 10, 15:56 UTC): Adds last paragraph on when PayPal allowed crypto withdrawals.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
