Latin America e-commerce platform Mercado Libre has revealed that it previously held more than $40 million in cryptocurrency

Mercado Libre, Latin America's largest e-commerce platform, has disclosed that it holds more than $40 million in cryptocurrency, according to its 2024 Quarter 1 filing. The company disclosed that it held 412.7 BTC and 3,041.6 ETH as of March 31. However, Mercado Libre does not own these assets, and its CIO, Richard Cathcart, explained that the company has liquidated its cryptocurrency in 2023. Cathcart claims that this filing reflects the fact that we offer our users to buy, hold and sell. But at the moment, we do not own this currency ourselves.