PayPal Discloses Nearly $1B of Crypto Assets on Balance Sheet

The increase in customer crypto assets comes as PayPal ups its crypto offerings

article-image

Tero Vesalainen/Shutterstock modified by Blockworks

share

PayPal disclosed nearly $1 billion in cryptocurrencies on its balance sheet in a 10-Q filing with the SEC.

The company indicated that it holds $943 million worth of customer assets in bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC) on its balance sheet.

A 10-Q filing is a quarterly financial performance report mandated by the SEC to disclose financial information. 

From the end of last year, the company reported an increase of $339 million in customer crypto assets. 

“We maintain the internal recordkeeping of our customers’ crypto assets, including the amount and type of crypto asset owned by each of our customers,” PayPal said in its 10-Q

The company does not hold cryptocurrencies outside of its customer assets on its balance sheet. 

While there’s no regulatory protection for crypto investors in the US yet, PayPal — per its terms and conditions — said that it will protect customers from “the full amount of unauthorized purchase or sale activity,” following cooperation with the company. It will also reimburse customers for “unauthorized transfers” for a lifetime cap of $50,000. 

The payments provider has introduced numerous crypto features to its customers in the past few years. It enabled customer transfers to third-party wallets and exchanges in July 2022.

It also recently rolled out crypto transfers on Venmo, the mobile payments services app. This allowed customers to move holdings to external wallets, while also letting users transfer crypto to others through the app. 

ConsenSys, in December of last year, integrated a feature allowing users to buy ether via PayPal to fund their wallets.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (19).png

Research

Suilend has grown into the top money market and liquid staking provider on Sui. STEAMM, Suilend’s Superfluid AMM, presents a compelling avenue for growing market share within Sui’s DEX landscape and revenue generation for the protocol. Suilend’s multi-product suite position it well for owning market share across key verticals. While current metrics across the Sui ecosystem are likely inflated due to Sui Foundation incentive programs, SEND trades at amongst the lowest multiples in the lend/borrow sector, suggesting that a bull case for continued growth in the ecosystem may be mispriced.

article-image

Decentralized money was a “very unpopular goal” when concepts were proposed in the ’90s, said Nick Szabo

article-image

Cove aims to deliver “risk-adjusted yield” through curated DeFi vaults

article-image

The best capital markets are open to the most people — and crypto capital markets are open to everyone

article-image

Post-conference musings on Firedancer, Kraken, Solana Mobile and Trump

article-image

Executives expect others to follow SharpLink Gaming’s lead in purchasing an asset that has surged this past month

article-image

After a weekend of tariff policy shifts, investors appear confident that trade deals are underway