Block (Cash App) just agreed to pay $764M to settle a US money laundering probe. That's literally more than their entire Q3 profit ($566M).
Meanwhile their $BTC gross profit dropped 50% because Cash App users aren't trading as much anymore.
Deal's not final yet, but this is a massive hit. Dorsey's been all-in on bitcoin for years, but the regulatory heat is real and the numbers aren't looking great.
Meanwhile their $BTC gross profit dropped 50% because Cash App users aren't trading as much anymore.
Deal's not final yet, but this is a massive hit. Dorsey's been all-in on bitcoin for years, but the regulatory heat is real and the numbers aren't looking great.
