Square Might Have a Bitcoin Problem – The Washington Post

On Thursday, the fintech firm — recognized for its service provider checkout system and its digital pockets Money App that permits person-to-person funds, inventory investing and Bitcoin buying and selling — reported lower-than-expected income for the quarter led to September, primarily resulting from disappointing outcomes from cryptocurrency buying and selling. That enterprise, which permits customers to purchase and promote Bitcoin by way of the app, producing charges for Sq. within the course of, had $1.82 billion in gross sales, up 11% from a 12 months in the past however considerably beneath the $2.47 billion median estimate of analysts surveyed by Bloomberg.