Latin American e-commerce platform Mercado Libre reveals it previously held more than $40 million in cryptocurrencies
Mercado Libre, the largest e-commerce platform in Latin America, disclosed that it holds over $40 million worth of cryptocurrency in its Q1 2024 filing. The company revealed that as of March 31, it holds 412.7 BTC and 3,041.6 ETH. However, Mercado Libre does not own these assets, according to its Chief Information Officer Richard Cathcart, who explained that the company liquidated its cryptocurrency in 2023. Cathcart claimed that the filing reflects the fact that the company provides services for users to buy, hold, and sell cryptocurrency, but currently does not hold any such currency itself.
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