Block Reaches $964 Million DOJ Deal in Principle Over AML Lapses

Block has reached a $964 million deal in principle with the DOJ over anti-money-laundering lapses, with credits for prior regulatory resolutions reducing the payment to about $764 million. Separately, the company's bitcoin ecosystem gross profit fell 50%, mainly due to Cash App fee cuts. Traders should watch how the penalty and shrinking bitcoin-related revenue affect Block's crypto strategy and sentiment around BTC-linked fintech exposure.