The theme of digital-first infrastructure and value-added services built atop it is one that Block, owner of Cash App, Square, and Tidal, leaned into during Thursday’s (Aug. 1) second quarter 2024 earnings call. Block delivered year-over-year improvement across all profitability measures in the second quarter of...
One motivation for Block’s investment in bitcoin is to learn about the technology and how to use it. The company invests 10% of its gross profit from bitcoin products each month into buying more bitcoin; allocates less than 3% of its resources to bitcoin-linked projects;...
There might be as many opinions about crypto as there are cryptocurrency tokens. And with tens of thousands of digital assets populating the crypto market, that’s certainly a lot of opinions. That sheer scale of noise is in part why it can be so challenging...
Block, owner of Cash App and Square, is also a huge owner of bitcoin. This, as the company’s latest first quarter 2024 earnings results revealed that the company’s $200 million investment in bitcoin grew by around 160% and stood at $573 million at the quarter’s end. “We believe the world needs...
February 22, 2024
Block’s latest earnings show more users opting to use Cash App Cards, an on-ramp to other financial services and products. As noted in the company’s shareholder letter, 2 million actives (3% of total monthly transacting actives) were depositing their paycheck into Cash App each month, relative to 23 million Cash App Card monthly actives (41% of […]
December 21, 2021
The argument started when Elon Musk tweeted out a vague comment about something crypto-related: Web3 in this case. Web3 is a somewhat hazy concept that puts a decentralized blockchain-based infrastructure...
February 28, 2018
Bitcoin. There. We said it. But all that aside -- and yes, cryptos made an appearance -- Square's diversifying model saw 4Q traction not just in gross payment volumes and...
July 03, 2017
With just a day left ‘til the fireworks officially start in celebration of the 4th of July here in the U.S., we thought we’d offer a preview. Amazon has redefined time, LendUp has a new Pal, Square wants...
June 27, 2024
One motivation for Block’s investment in bitcoin is to learn about the technology and how to use it. The company invests 10% of its gross profit from bitcoin products each month into buying more bitcoin; allocates less than 3% of its resources to bitcoin-linked projects; and holds bitcoin on its own balance sheet, Bloomberg reported […]
April 01, 2024
Block has entered into the eighth amendment to its revolving credit agreement with its lenders and the administrative agent, Goldman Sachs Bank USA. This amends a revolving credit facility that dates back...
February 22, 2024
Block plans to cut 112 jobs on March 30 as part of its previously announced cost-cutting measures. The company began job cuts in January and aims to reduce its workforce from...
January 30, 2024
Block is reportedly cutting jobs as part of its previously announced effort to limit the size of its workforce to 12,000 employees. The company announced that goal in November during an...
