Block’s proposed $764M DOJ deal exceeds quarterly profit as Bitcoin gross profit halves

Block disclosed a proposed $764 million settlement with the U.S. Justice Department in a November 3, 2026 filing, as its bitcoin business reported sharply lower profit. The agreement, reached in October, concerns anti-money-laundering controls and exceeds the company’s reported third-quarter profit of $566 million. Key takeaways Block’s proposed DOJ agreement would defer a criminal charge for three years. Lower transaction fees helped halve quarterly bitcoin gross profit. Cash App lending and payments helped lift overall gross profit 22%.

Source: The Cryptonomist