#doj-settlement

Jack Dorsey’s Block (XYZ) Sets Aside $764 Million for DOJ Settlement as Bitcoin Profit Halves

Jack Dorsey's Block has set aside $764 million for a DOJ settlement over anti-money-laundering failures at Cash App. The company's bitcoin profit has halved, and the settlement amount exceeds its Q3 profit. This development may impact the company's financial performance and reputation.