Cashapp Worried For Its BTC Revenue 

CashApp Bitcoin Revenue Continues To Decline

Cashapp has continued to record a downward growth in terms of BTC revenue.

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According to the latest press release by the parent firm, fintech giant Block, CashApp has generated $1.79billion in bitcoin revenue down by 34% in the second quarter of 2022.

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Further it made $41million of bitcoin gross profit that is down by 24% during the same quarter.

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Last year CashApp generated $12.3 billion in revenue 81% of which came from Bitcoin.

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The cashApp ecosystem delivered a gross profit of $705 million this quarter.

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The Total net revenue was $4.40 billion for the second quarter of 2022, down by 6% year over year, driven by a decrease in bitcoin revenue.

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Block has planned to host a conference call and earnings webcast on August 4 with Cashapp to discuss these financial results.

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