Block (formerly known as Square) – an American multinational technology conglomerate founded by Jack Dorsey – disclosed $1.83 billion of bitcoin revenue generated from its Cash App payment service in Q4, 2022.
The figure was nearly $2 billion in the fourth quarter of 2021, and the company blamed the decline of the crypto market for the downturn.
However, Block’s shares climbed nearly 7% after reporting positive overall financial results.
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