A fine bigger than a quarter’s profit? Jack Dorsey’s Block has to pay $764 million 💸
📌 Block has reached an agreement in principle with the U.S. Department of Justice to resolve its anti-money laundering (AML) investigation, for $764M—more than its Q3 profit of $566M.
📌 Criminal charges will be deferred for 3 years (under a deferred prosecution agreement).
📌 Q3 Bitcoin gross profit was cut in half year over year, down 50% to $52M, mainly due to lower Cash App transaction fees; overall gross profit rose 22% to $3.24B. (Source: CoinDesk)
👉 My take: Compliance costs are becoming a hard cost for payments and trading companies. U.S. regulators haven’t eased up just because they’re “pro-crypto”—anti-money laundering remains a red line. For users, choosing a compliant platform with solid risk controls matters more than chasing low fees.
⚠️ The other side: As fees get driven lower and lower, Bitcoin business profits are being squeezed, and the “sell coins for a spread” model is thinning out.
What do you think: Will the fine affect Block’s continued Bitcoin business? Share your thoughts in the comments 👇
$BTC $ETH
#Block #加密监管 #Bitcoin
Personal opinion only; not investment advice
📌 Block has reached an agreement in principle with the U.S. Department of Justice to resolve its anti-money laundering (AML) investigation, for $764M—more than its Q3 profit of $566M.
📌 Criminal charges will be deferred for 3 years (under a deferred prosecution agreement).
📌 Q3 Bitcoin gross profit was cut in half year over year, down 50% to $52M, mainly due to lower Cash App transaction fees; overall gross profit rose 22% to $3.24B. (Source: CoinDesk)
👉 My take: Compliance costs are becoming a hard cost for payments and trading companies. U.S. regulators haven’t eased up just because they’re “pro-crypto”—anti-money laundering remains a red line. For users, choosing a compliant platform with solid risk controls matters more than chasing low fees.
⚠️ The other side: As fees get driven lower and lower, Bitcoin business profits are being squeezed, and the “sell coins for a spread” model is thinning out.
What do you think: Will the fine affect Block’s continued Bitcoin business? Share your thoughts in the comments 👇
$BTC $ETH
#Block #加密监管 #Bitcoin
Personal opinion only; not investment advice
