Block’s $764M DOJ Truce Has One Bitcoin Complication: Q3 Profit Halved

Jack Dorsey-owned Block has agreed in principle to pay $764 million to resolve a U.S. Department of Justice investigation into alleged failures in its anti-money laundering controls, according to the company’s latest quarterly filing. The proposed deferred prosecution agreement would defer criminal charges for three years and address compliance requirements under the Bank Secrecy Act.

The agreement follows years of scrutiny over compliance practices at Block’s Cash App. Block disclosed the potential settlement in its quarterly filing, while warning that a potential DOJ settlement could be larger than expected.

Block beat third-quarter earnings estimates with $3.2B in gross profit and raised its 2026 outlook. The company’s broader results contrasted with a sharp decline in its Bitcoin ecosystem business, where gross profit fell 50% year-over-year to $52 million in Q3.

The company’s disclosure came in a filing published on November 3, 2026, one day before the article’s November 4, 2026 update. Under the proposed deal, prosecution would be deferred for three years over allegations that Block failed to maintain an effective anti-money laundering program.