- Block reported $1.76 billion in bitcoin revenue in its Cash App unit during the third quarter, down 3% year-over-year and lower than the $1.79 billion reported in the second quarter.
- Cash App generated $37 million of bitcoin gross profit in the third quarter, down 12% from a year earlier.
- Block posted $1.57 billion in overall gross profit for the quarter, up from $1.47 billion in the second quarter. Total net revenue was $4.52 billion, up 17% year-over-year. Excluding bitcoin revenue, total net revenue was $2.75 billion, up 36% versus the prior year.
- Shares of Block jumped 14% in postmarket trading today.
No two users can claim the same addresses on the platform ensuring that there is no cross-attestation. Additionally, if a user removes an address or wallet, that address cannot be re-attested for at least 60-days.
Block (formerly Square) will be manufacturing their upcoming hardware wallet in Austin, Texas. This post highlights the process they took when making this decision.
Genesis is the main partner in Gemini’s “earn” programme, where retail investors lend out their coins in exchange for a fixed stream of returns. Gemini halted withdrawals from the scheme last month.