CROWDFUNDINSIDER · 2026-11-05 12:18 UTC

Block ($XYZ) Accrues $764 Million for Proposed DOJ Resolution as Bitcoin Gross Profit Falls by Half

Block reached an agreement in principle with the DOJ in October 2026 to resolve an anti-money laundering inquiry, with a net payment of $764 million after credits, which the company has fully accrued. Third-quarter gross profit rose 22% year-over-year to $3.24 billion, with Cash App up 27% and Square up 14%, but bitcoin ecosystem gross profit fell 50% to $52 million due to lower transaction fees. The company raised full-year 2026 gross-profit guidance to $12.63 billion representing 22% growth, though the DOJ resolution remains subject to final agreement and court approval.

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