Block reached an agreement in principle with the U.S. Department of Justice in October 2026 to resolve an investigation into its anti-money laundering system. The proposed deal would defer prosecution for three years and involve an expected net payment of about $764 million after prior regulatory payments. It is not final and still needs approval from the parties and the court. Block said final terms could lead to losses above the amount it has reserved.
Block’s bitcoin ecosystem gross profit fell 50% from a year earlier to $52 million in the third quarter of 2026. The company attributed the decline mainly to lower fees on certain Cash App bitcoin transactions.
