Block missed its revenue estimates for Q3 and said it is “winding down” its DeFi business to shift money into its Bitcoin mining and wallet businesses.
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Jack Dorsey’s Bitcoin-friendly financial services firm Block saw its stock rally 13% in October, coming in line with bullish market action.
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A North Carolina man has been indicted for allegedly laundering more than $380,000 in a wire fraud scheme, according to the Department of Justice. The suspect is accused of moving illicit funds through payment platforms and cryptocurrency exchanges, transferring over $240,000 to crypto addresses. The money laundering conspiracy charge could result in a 20-year prison […]
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Bridge seeks to build a global stablecoin payment network to rival traditional systems like Swift and credit cards.
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Fitch Ratings notes that Block has used convertible debt for external funding since its IPO and is well-positioned to exploit the growth in payments and consumer financial services.
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Block Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. “We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around […]
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Block, Inc. co-founder Jack Dorsey told shareholders its Bitcoin-buying plan during an earnings call, saying its an “investment in a future where economic empowerment is the norm.”
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Block’s first-quarter 2024 results beat Wall Street analyst estimates on earnings and revenue which saw its share price surge after the bell.
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U.S. prosecutors are reportedly investigating the fintech firm after a whistleblower claimed it processed thousands of transactions for users from sanctioned countries and terrorist groups.
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Block gets one percent of every conversion.
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