Block DOJ Settlement: Jack Dorsey’s Company Faces $764M Deal as Bitcoin Profit Plunges 50%

Dextape brief

By Dextape Desk · November 4, 2026

Payments firm Block has agreed in principle to pay about $764 million to settle a federal probe into alleged anti-money laundering control failures, according to its quarterly filing. The company said the deal would be a deferred prosecution agreement with the Justice Department, holding off criminal charges for three years. If Block fully complies, prosecutors would move to drop them. Final terms and court approval are still needed.

Block has already set aside $764 million, though it warned the final cost could be higher. Bitcoin ecosystem gross profit fell 50% to $52 million in the third quarter, mainly due to lower Cash App fees, even as total gross profit rose 22% to $3.24 billion.

Why it matters: It shows how compliance failures at a large crypto-facing payments firm can bring heavy legal costs, and how lower Bitcoin fees can quickly reshape its profits.

Mentioned: Bitcoin, Block, Inc.

Summary by Dextape, based on reporting by Cryptonews. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.