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Published: just now

Block, Inc. posted second quarter 2025 gross profit of $2.5 billion, up 14% year on year, with Adjusted Operating Income rising 38% to $550 million and margins reaching a record 22%.
The platform’s peer-to-peer network processed $218 billion over the past 12 months and Bitcoin trading volumes reached $58 billion. The company expanded its Bitcoin capabilities by giving sellers and businesses additional tools to receive and accept the cryptocurrency. Meanwhile, Cash App, the company’s flagship financial super-app, delivered 16% gross profit growth.
The Cash App Card and buy now, pay later (BNPL) products drove the gains, while post-purchase BNPL on Cash App Card surpassed one million monthly active users in July. Borrow originations through Square Financial Services hit $18 billion annualised, with the in-house bank now originating most loans.
Jack Dorsey, Block Head, said: “We've been talking for several quarters about our focus on increasing product velocity and ramping our go to market investment. This quarter you can see our work paying off. We're back to growth mode across the company – we are shipping faster, launching new features like pools in just a few months, and we are accelerating the pace of delivering AI functionality to customers.”
Amrita Ahuja, Chief Operating Officer and Chief Financial Officer, said: “We delivered strong results in the second quarter, exceeding our gross profit and Adjusted Operating Income guidance.” New product launches included Square AI, Square Handheld, an updated Square Online, bitcoin payments on Square, Tap to Pay for Cash App Business, Cashbot – an AI-powered support agent – and Cash App Pools.
For Q3, Block projects gross profit of $2.60 billion (up 16% year on year) and Adjusted Operating Income of $460 million, or an 18% margin. Full-year guidance has been raised to gross profit of $10.17 billion and Adjusted Operating Income of $2.03 billion.
Block joined the S&P 500 this quarter and will host its investor day on 19 November.
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Americans vote on November 3 for all 435 seats in the House of Representatives and a third of the Senate. The presidency is not on the ballot, which means any new Congress will still need the President's signature to turn bills into law. Markets care about the midterms less for the laws that follow and more for what changes in oversight, budgets and the regulatory mood of Washington.
The Australian Securities and Investments Commission has said it is not currently convinced that prediction markets for retail clients are in the public interest. ASIC Chair Sarah Court said prediction market contracts have all the features of a bet, likening them to binary options, which are banned for retail clients.
Binance has confirmed a security incident with an estimated total impact of around $6.3 billion, linked by its initial investigation to a compromised DevOps engineer's laptop. Around $3 billion has been frozen on-chain, and the exchange says it will cover all losses from its SAFU fund and company funds.
US crypto exchange Coinbase has reported net income of $719 million for the third quarter of 2026, up 66% from $432.6 million a year earlier. Prediction markets passed $200 million in annualised revenue, and paid Coinbase One subscribers reached an all-time high.
Webull Securities Co., Ltd., the Japanese subsidiary of Webull Corporation, has started handling US Treasury bonds, giving customers access to about 20,000 bonds as of 30 October 2026. The service lets users trade market-traded bonds like stocks, with real-time prices and yields, from $100.
Intercontinental Exchange and Trade[XYZ] have agreed to bring Trade[XYZ]’s perpetual markets onshore in the US through a new regulated market and clearing structure for round-the-clock retail trading built on Hyperliquid, operated separately from ICE’s institutional futures franchise, subject to regulatory approvals.
The Utah Attorney General's Office has filed 14 criminal charges against KalshiEX, LLC, the operator of US prediction market Kalshi, in a case that names co-founders Tarek Mansour, Chief Executive Officer, and Luana Lopes Lara, Chief Operating Officer, as co-defendants.
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