Block books $764 million for DOJ deal deferring Bank Secrecy Act charge

Block has booked $764 million in connection with a planned DOJ agreement that would defer a Bank Secrecy Act charge, though final terms and court approval are still pending. The company's bitcoin business kept about 2.9 cents of gross profit per dollar of revenue in the third quarter, down from 5.1 cents a year earlier. Traders watching crypto-adjacent equities will weigh the looming regulatory settlement against the shrinking margins in Block's bitcoin operations.