It made $566 million in a quarter, yet has to cough up $764 million to settle. I’ve been trying to make the math add up.
In an SEC filing, Jack Dorsey’s Block disclosed that it had agreed in principle to pay $764 million to resolve a U.S. Department of Justice investigation into its anti-money laundering compliance. Criminal charges will be deferred for three years. In the same earnings report, Cash App’s gross profit from Bitcoin was also cut in half, falling 50% to $52 million, mainly because the company lowered its fees.
Honestly, the fine is one thing. What I care more about is this: if even a company this big can stumble on compliance, can we really feel safe keeping our crypto on a platform? Personally, I still prefer to hold most of mine myself.
What do you think—is Block’s fine expensive or cheap? DYOR
#比特币 #Block #Compliance
In an SEC filing, Jack Dorsey’s Block disclosed that it had agreed in principle to pay $764 million to resolve a U.S. Department of Justice investigation into its anti-money laundering compliance. Criminal charges will be deferred for three years. In the same earnings report, Cash App’s gross profit from Bitcoin was also cut in half, falling 50% to $52 million, mainly because the company lowered its fees.
Honestly, the fine is one thing. What I care more about is this: if even a company this big can stumble on compliance, can we really feel safe keeping our crypto on a platform? Personally, I still prefer to hold most of mine myself.
What do you think—is Block’s fine expensive or cheap? DYOR
#比特币 #Block #Compliance
