Block Books $764 Million for Planned DOJ Deal That Would Defer a Bank Secrecy Act Charge

Final terms and court approval are still pending. Block’s bitcoin business, meanwhile, kept about 2.9 cents of gross profit per dollar of revenue in the third quarter, down from 5.1 cents a year earlier. Block has booked $764 million against a planned deferred prosecution agreement with the Justice Department, putting a price on a probe of the Cash App and Square operator’s anti-money laundering controls that dates to 2023, according to a quarterly SEC filing posted Nov. 3.