Block Inc’s Bitcoin revenue stagnates in Q3, shares drop 12% on revenue miss
Block missed its revenue estimates for Q3 and said it is “winding down” its DeFi business to shift money into its Bitcoin mining and wallet businesses. Go to Source
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Block missed its revenue estimates for Q3 and said it is “winding down” its DeFi business to shift money into its Bitcoin mining and wallet businesses. Go to Source
Block’s Bitcoin revenue exceeded $2.61 billion during the second quarter of 2024, contributing to a total net revenue of $6.16 billion for the period. Go to Source
The app, one of the products of payments firm Block, had been operating in the United Kingdom since 2018. Go to Source
Billionaire Jack Dorsey foresees a future where bitcoin could supplant the U.S. dollar as the dominant global currency. He envisions a scenario where bitcoin’s value could soar to $1 million by 2030. Highlighting the cryptocurrency’s decentralized nature, Dorsey underscores its potential to democratize financial systems and reduce reliance on traditional banking institutions. Jack Dorsey Anticipates … Read more
Over the weekend, a prominent personality in the bitcoin and blockchain sector, Bruce Fenton, addressed Jack Dorsey, CEO of Block, Inc., through a post on the social media platform X. Fenton asserts that Dorsey owes an explanation, as Twitter’s senior leadership has faced accusations of orchestrating one of the most significant acts of censorship in … Read more
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguay shut down the largest illegal bitcoin mining operation to date, Argentine and Salvadoran officials met to discuss bitcoin issues, and Ocean launched a global hub in El Salvador. Paraguayan Authorities Shut Down … Read more
This week’s Crypto Biz features Robinhood’s Wells notice, Grayscale’s Ether ETF application, Coincheck’s merger deal and Block’s billionaire debt offering. Go to Source
Twitter co-founder Jack Dorsey predicts that the price of Bitcoin could hit at least $1 million by 2030, suggesting its value may grow even further thereafter. In an interview, he expressed his enthusiasm not just about Bitcoin’s potential for price growth but also highlighted the unique and collaborative nature of its ecosystem, implying that efforts … Read more
“I do think it hits that number and goes beyond,” said the Twitter co-founder on his million-dollar Bitcoin prediction. Go to Source
Fitch Ratings notes that Block has used convertible debt for external funding since its IPO and is well-positioned to exploit the growth in payments and consumer financial services. Go to Source