Block, Inc.
American financial services company
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| 2025 | Block expects Proto to contribute to the company's business growth in the second half of 2025. |
| March 2025 | Block announced plans to cut almost 1000 employees. |
| February 2025 | Block began manufacturing chips for Proto with plans to roll out the mining system later in the year. |
| January 2025 | Block changed its stock ticker from SQ to XYZ. |
| 2024 | Block reported significant financial metrics, including $24.12 billion in revenue, $892 million in operating income, $2.9 billion in net income, and $240.81 billion in gross payment volume (GPV). The company also noted having 11,372 employees, $36.78 billion in total assets, and $21.27 billion in total stockholders' equity. |
| 2024 | Nick Molnar was promoted to the role of 'head of sales' at Block, leading all sales activity and reporting to Jack Dorsey. |
| November 2024 | Block disclosed in its earnings report that it was negotiating potential settlements with state regulators regarding its anti-money laundering program and with the Consumer Financial Protection Bureau (CFPB) about Cash App's customer complaint handling. |
| November 2024 | Block announced scaling back investments in Tidal, eliminating product management and product marketing functions, and reducing Tidal to a smaller entity focused on product development. |
| November 2024 | Block announced layoffs across Tidal, TBD, and Square services, and decided to wind down TBD, scale back Tidal investments, and focus on bitcoin mining and Bitkey. |
| October 2024 | Bitkey was featured in TIME's list of the 'best inventions of 2024'. |
| September 2024 | Block announced a leadership reshuffle, moving executives into senior roles and creating a new customer safety position. Brian Grassadonia was appointed as the company's new 'ecosystem lead'. |
| July 2024 | Block signed a large-scale crypto mining hardware pact with bitcoin miner Core Scientific to supply its chips. |
| May 2024 | NBC News reported that prosecutors from the Southern District of New York were examining Block's financial transactions and internal practices, focusing on alleged compliance lapses at Square and Cash App units. |
| May 2024 | Block's Square platform was confirmed as the market leader in point-of-sale systems in the United States. |
| April 2024 | Block completed development of its own standalone three-nanometer bitcoin mining chip and began working with a semiconductor foundry to design a full bitcoin mining system. |
| February 2024 | Block reported an annual Gross Payment Volume of US$228 billion and an annual income of $9.8 million for the year 2023. |
| December 2023 | Block launched Bitkey, a self-custody Bitcoin hardware wallet, expanding its service to 95 countries including the U.S., U.K., Canada, Nigeria, Argentina, Mexico, and India. The wallet provides investors with a comprehensive solution for owning, managing, and storing Bitcoin without third-party exchanges. |
| October 2023 | Cash App introduced a feature allowing eligible users to borrow up to $200 directly through the app. |
| October 2023 | Alyssa Henry, CEO of Square business, departed the company, with Jack Dorsey taking on an additional role as 'Square Head'. |
| September 8 2023 | Block resolved the service disruptions, attributing the outage to a Domain Name System (DNS) issue and not a cyberattack. |
| September 7 2023 | Square and Cash App suffered major service outages affecting thousands of users, impacting card payment processing and peer-to-peer transactions. |
| April 2023 | Square reported having 4 million merchants as customers, expanding its client base to include small, medium, and larger businesses across multiple countries including the U.S., Australia, Canada, France, Japan, Republic of Ireland, Spain, and the U.K. |
| April 2023 | Block and H&R Block jointly agreed to dismiss the trademark infringement lawsuit. |
| March 2023 | USA Today reported that Cash App launched a free tax-filing service with limitations on tax situation support. |
| March 23 2023 | Hindenburg Research disclosed a short position in Block, causing a 15% drop in the company's shares. The research firm accused Block of exaggerating user counts, failing to curb fraud on Cash App, and permitting impersonation of high-profile individuals. |
| February 2023 | Afterpay experienced a service issue leading to reduced spending limits for around 2000 users, causing widespread difficulties with the service. |
| 2022 | Tidal discontinued its 'Direct Artist Payouts' scheme, which previously allowed up to 10 percent of a user's subscription fee to be delivered to the artists they listened to most. |
| 2022 | A Protocol survey revealed that 35% of U.S. small business owners were using Square, demonstrating its significant market penetration in the point-of-sale system industry. |
| January 31 2022 | Block completed its acquisition of Afterpay, an Australian buy now, pay later (BNPL) lender. |
| December 16 2021 | H&R Block sued Block, Inc. for trademark infringement, claiming the name could confuse customers. |
| December 10 2021 | Square, Inc. officially changed its name to Block, Inc. |
| December 1 2021 | Square announced its plan to change its company name to Block, Inc., shortly after Jack Dorsey's resignation from Twitter. |
| August 2021 | Afterpay expanded operations to the U.S., Canada, New Zealand, UK, France, Italy, and Spain (under the name Clearpay). |
| August 2021 | Block announced the acquisition of Afterpay for US$29 billion in stock. |
| March 2 2021 | Square reached an agreement to acquire majority ownership in Tidal for $297 million in cash and stock, with Jay-Z joining the company's board of directors and remaining a stakeholder. |
| February 2021 | Square purchased an additional 3,318 bitcoins for around US$170 million, bringing its total Bitcoin holdings to approximately 8,027 bitcoins, valued at around US$500 million. |
| November 2020 | Square acquires Credit Karma Tax for $50 million, integrating it into the Cash App unit. |
| October 2020 | Square invested approximately 1% of its total assets (US$50 million) in Bitcoin, purchasing 4,709 bitcoins based on the cryptocurrency's potential to become a more widespread currency. |
| May 2020 | Square announces that some workers can be permanent remote workers. |
| March 2020 | Square implements remote work due to the COVID-19 pandemic. |
| February 2020 | Square acquires Dessa, a Toronto-based deep learning company. |
| February 2020 | Afterpay reported having 3.6 million active customers in the US, 3.1 million in Australia and New Zealand, and 600,000 in the UK. |
| May 2019 | Square acquires Eloquent Labs, an artificial intelligence startup focused on improving customer service experiences. |
| 2018 | Block reported financial results for the fiscal year, including losses of US$38 million and annual revenue of US$3.299 billion, representing a 49.0% increase from the previous fiscal cycle. |
| 2018 | Afterpay reached a market capitalization of approximately $3.3 billion. |
| December 2018 | Cash App reached over 7 million users and became the No. 1 free finance app in Apple's U.S. iPhone App Store, surpassing competitors PayPal and Venmo. |
| April 26 2018 | Square announces acquisition of Weebly, a website-building service, for $365 million. |
| April 19 2018 | Square acquires Zesty, a food delivery service catering to corporate offices. |
| 2015 | American rapper Jay-Z purchased Tidal for $56 million, with the aim of giving artists more control over music distribution. |
| November 19 2015 | Square Inc. becomes a public company through an initial public offering. |
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