That is incredible! A very profitable part of their business model. I still feel like fees are a race to the bottom though, which is concerning for $COIN
CashApp sold $7.11 billion worth of bitcoin to users in 2022.
The overwhelming majority appears to have been withdrawn to self custody.
Full Shareholder Letter: https://s29.q4cdn.com/628966176/files/doc_financials/2022/q4/Block_Shareholder-Letter-4Q22.pdf
That is incredible! A very profitable part of their business model. I still feel like fees are a race to the bottom though, which is concerning for $COIN
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