Bitcoin Crash, Weak Demand Pull Down Jack Dorsey's Cash App Crypto Profit By 12% In Q3

Jack Dorsey-led Block Inc’s (NYSE:SQ) Cash App generated $37 million of Bitcoin gross profit in the third quarter of 2022, where its overall gross profit came in at $783 million.  What Happened: This implies Bitcoin contributed nearly 4.7% to Cash App’s gross profit in the third quarter.