02/05/19 11:29 UTC-4

Square Cryptocurrency Company announced a record profit in 2019

Record profit of the Square crypto-company in 2019
Record profit of the Square crypto-company in 2019

On May 1, a payment solutions provider, Square, provided its financial report for the first quarter of 2019. The report indicates that the company's profitability has increased due to the growth of Bitcoin sales through the Cash App.


Square – financial report for the first quarter of 2019

As it became known, the company of Jack Dorsey (who is also the CEO of Twitter) has an extraordinary success in the field of Bitcoin-sales. The total profitability of Square for the first fiscal quarter of this year was more than $ 65.5 million.

At the same time, the company also reported on its expenses, which amounted to 4.6 million US dollars. According to estimates, the net profit from the Bitcoins Cash App sales application is fixed at $ 832,000. This is a record amount for the company, which, according to the report, shows an 80% increase.

Interesting in the section: Cryptocurrencies in Spain: what Spanish traders “google” and the development of crypto in the country

In the preface to the financial statements, the company also stated that it was not going to change its operating principles.

“Our approach is the same as in the Cash App: we see an opportunity to create a similar ecosystem of services for individuals, giving everyone financial access and allowing everyone to send, spend and save money from a single application.” – Square.

The Square crypto-company announced a record profit in 2019. Recall that the director of the company, Jack Dorsey, is looking for crypto-engineers to expand the company.

Editor: Pereyidenko Ihor

See also: "The Canadian province of Quebec offers cheap electricity to attract Bitcoin-miners"

#Square #Bitcoin #cryptocurrency #CashApp #JackDorsey #financialreport



17/05/19 06:00 UTC-4

#DropGold Bitcoin movement is now on American TV channels

​On May 16, it was reported that the popular American TV channels, National Geographic and Fox News, will broadcast a video ad for the DropGold movement. As it became known, the project was financed by Grayscale Investments and Barry Silbert.

03/05/19 09:00 UTC-4

Vitalik Buterin: Ethereum for people!

​On May 3rd, the Ethereum cryptocurrency developer stated that Ethereum coins are intended primarily for ordinary people. According to Vitalik Buterin, cryptocurrencies should become easier and more reliable.

20/05/19 10:08 UTC-4

WhatsApp messenger now supports Bitcoin and Litecoin payments

​On Sunday, May 19th, developers from the Zulu Republic team reported on the implementation of a special bot for crypto transactions inside the WhatsApp messenger. Now the WhatsApp network can make payments in Bitcoins and Litecoin.

Hypes, funds, fiat money