Jack Dorsey's Block faces $764 million DOJ settlement as bitcoin profit plunges 50%

CoinDesk Wed, 04 Nov 2026 06:06:04 GMT BTC Bearish

Block, the payments company led by Jack Dorsey, faces a proposed $764 million settlement with the DOJ to resolve a federal anti-money-laundering investigation. Its quarterly bitcoin gross profit roughly halved as lower Cash App trading fees cut revenue. The legal payout and weaker bitcoin trading income matter to traders watching how crypto-linked fintechs are handling compliance and earnings pressure.

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