S&P 5007,765.36▼0.5% Nasdaq27,193.34▼1.2% Dow51,231.64▲0.1% Russell 2K2,794.13▲0.0% 10-Yr5.23%−5bp VIX15.41+0.33 WTI$91.10▲3.2% Gold$4,157.80▲0.4% EUR/USD1.122▼0.3% BTC$81,907▼1.4% Nikkei70,036▼0.9%
At close · Thu, Oct 8, 2026
Daily Market Updates.

Crypto

Home›Crypto›Market Structure›Block's bitcoin gross profit drops 31% after Cash App…

Block's bitcoin gross profit drops 31% after Cash App fee cuts

The Block also increased its 2026 gross profit forecast to $12.5 billion after posting record adjusted operating income, according to The Block.

Reported · Written up by our desk · Market Structure

Block reported that its bitcoin gross profit fell 31% after it cut Cash App fees, shifting revenue economics for its crypto business.

The Block said it raised its forecast for 2026 gross profit to $12.5 billion, after posting record adjusted operating income.

The update came as the shares reversed early gains, reflecting investor reaction to the companys crypto profitability move.

Latest closeBitcoin $81,906.63 ▼1.4%

← Newer storyUSD/SGD holds near 1.2820, UOB flags 1.2790 support

More like this

CryptoBase apps can embed variable-rate stablecoin lending and crypto loans
CryptocirBTC borrowing on Morpho tops $190 million as USDC usage shifts
CryptoKSD platform integration targets Avalanche and Hyperledger stacks
CryptoEthereum Name Service proposes ENSv2 activation without forcing .eth migration
CryptoBitcoin exchange supply fell as price held near $83,485

Sources

The BlockBlock’s bitcoin gross profit falls 31% after Cash App fee cuts as shares reverse initial gains

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.