:Block Inc, the fintech firm led by Twitter founder Jack Dorsey, missed market estimates for first-quarter profit on Thursday as demand for bitcoin softened due to a decline in cryptocurrency prices.
Prices of bitcoin - the largest cryptocurrency - have dropped 21 per cent so far this year as investors flee riskier assets due to the Russia-Ukraine conflict and a more hawkish outlook for Federal Reserve policy tightening.
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Block plunges to loss as bitcoin boost fades:Block Inc, the payments company led by Jack Dorsey, on Thursday reported a loss for the first quarter as demand for bitcoin softened due to a decline in cryptocurrency prices. Bitcoin revenue more than halved in the first three months of 2022 as the euphoria around the biggest digital currency subsided after
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Block plunges to loss as bitcoin boost fades:Block Inc, the payments company led by Jack Dorsey, on Thursday reported a loss for the first quarter as demand for bitcoin softened due to a decline in cryptocurrency prices. Bitcoin revenue more than halved in the first three months of 2022 as the euphoria around the biggest digital currency subsided after
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »