Business1 source
Jack Dorsey's Block faces $764 million DOJ settlement as bitcoin profit plunges 50%
Headline from CoinDesk
Key points
- Block, led by Jack Dorsey, is facing a proposed $764 million settlement with the Department of Justice to resolve a federal anti-money-laundering investigation.
- Simultaneously, the company experienced a 50% drop in its quarterly bitcoin gross profit, driven by reduced Cash App trading fees during the period.
Summarized automatically by Kryptokite from reporting by CoinDesk. Read the original sources for full detail.
Coins mentioned
Sources
- CoinDeskJack Dorsey's Block faces $764 million DOJ settlement as bitcoin profit plunges 50% · 2 hours agoRead on CoinDesk
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