Key Highlights: Block has entered into a three-year deferred prosecution agreement (DPA) with federal prosecutors, placing the company under ongoing federal oversight to resolve charges tied to anti-money laundering (AML) failures at Cash App. The federal action follows roughly $120 million in combined state penalties and remediation commitments, including a $40 million New York Department ...
Key Highlights Block, led by Jack Dorsey, has agreed in principle to pay $764 million to resolve a Department of Justice investigation regarding anti-money-laundering compliance failures. Under the proposed deferred prosecution agreement, a criminal charge under the Bank Secrecy Act will be deferred for three years. The settlement stems from a probe initiated in 2023 ...
Key Highlights: Major Bitcoin mining companies are expanding into artificial intelligence computing, leasing high-performance hardware to tech firms rather than exclusively pursuing block rewards. Bitcoin’s network hashrate stands near 1.09 zetahash per second (ZH/s), showing resilience as hardware is often sold or redeployed rather than taken offline. Retail infrastructure demand continues to see interest, with ...
Key Highlights: Block substantially increased its legal reserve to $526 million in August as settlement discussions continue with the U.S. Department of Justice. To address scrutiny surrounding customer support and fraud prevention, Block is scaling Cash App’s services, adding personal loans, savings accounts, buy-now-pay-later options, and trading features. Jack Dorsey’s fintech company applied to the ...
Key Highlights Block’s AI research lab has showcased Dessa, an ultra-realistic voice research preview that quickly sparked viral reactions across social media. Industry leaders like Binance founder Changpeng “CZ” Zhao praised its conversational potential for education, while critics expressed alarm over deepfakes and fraud. Operating directly under Jack Dorsey at Block, the AI division includes ...
Key Highlights: Sazmining has partnered with Proto, the Bitcoin mining hardware arm of Jack Dorsey’s Block, to offer individual hashboards to retail and institutional miners. Each modular Proto hashboard provides roughly 200 TH/s of hash power with an energy efficiency rating of approximately 15 J/TH, hosted under Sazmining’s bundled electricity and maintenance structure. Sazmining operates ...