Jack Dorsey-led Block posts $1.5B in Q2 profits, BTC revenue down

Cointelegraph

Published Aug 04, 2022 11:05PM ET

Updated Aug 06, 2022 01:00AM ET

Former Twitter (NYSE:TWTR) CEO Jack Dorsey’s digital payments firm Block Inc. saw its year-on-year (YoY) profits soar 29% to $1.47 billion in Q2, though its Bitcoin (BTC) business slumped on decreased customer demand and a fall in Bitcoin prices.

The financial services firm primarily generates Bitcoin revenue by providing BTC trading services via its digital payments application Cash App.

h3 Bitcoin from the Block /h3

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