Block Reports Impressive Q2 Results Driven by Cash App Bitcoin Trading


Block, the parent company of Cash App, has reported impressive Q2 results driven by the surge in Bitcoin trading on its platform. Cash App, which allows users to buy and sell Bitcoin, has been a major growth driver for Block, contributing to the company’s overall revenue.

Bitcoin Trading Volume on Cash App

According to Block’s Q2 report, Bitcoin revenue on Cash App increased by 600% YoY, with the platform generating $2.72 billion in Bitcoin revenue alone. The report also indicated that Bitcoin trading on Cash App surpassed traditional stock trading on the platform for the first time.

Cash App’s Overall Performance

Cash App, which also offers peer-to-peer payments and debit card services, has seen significant growth in its user base. The platform added 3 million new users in Q2, bringing its total user base to 40 million. Cash App’s gross profit for the quarter was $546 million, a 167% increase YoY.

Block’s Overall Performance

Block reported a total revenue of $1.14 billion for Q2, a 600% increase YoY. The company’s gross profit for the quarter was $55 million, a 700% increase YoY. Block’s CEO, Jack Dorsey, commented on the company’s performance, stating that “we delivered strong growth at scale while continuing to invest in our business.”

Related:Worldcoin Orb had serious security vulnerability in operator onboarding: CertiK


Block’s Q2 results highlight the growing demand for Bitcoin trading and peer-to-peer payments. Cash App’s impressive performance has been a major contributor to the company’s overall success, and it will be interesting to see how Block continues to capitalize on the growing popularity of cryptocurrency and fintech services.

Official Accounts

Official Telegram Channel:
Official Instagram Account:
Official Twitter Account:

Related Articles

Understanding ERC-223 Tokens: A Safer Approach to Gas Fees and Enhanced Security

Dive into the world of ERC-223 tokens, offering enhanced security and efficient gas fee management in blockchain transactions. Learn how they safeguard against loss in unsupported...

What is ERC-6551: the Future of NFTs

Discover ERC-6551, a transformative standard in the NFT landscape, enhancing asset ownership, social identity, and enabling autonomous actions...

The Power of Trustless Smart Contracts and Optimism Layer Two: Insights from Perpetual Protocol Co-founder

Explore the transformative power of trustless smart contracts, DeFi innovations, and the Arbitrage Vault. Learn about Optimism Layer Two and Perpetual Protocol's...
You have not selected any currencies to display