Who Owns Cash App?

Block, Inc. does not hold independent third-party sustainability certifications such as B Corp status. The company publishes environmental, social, and governance information in its annual report and on its corporate website.

Block has committed to achieving net zero greenhouse gas emissions across its operations and supply chain. The company reports carbon footprint data and has invested in renewable energy for its offices and data center usage. Block's environmental impact is relatively low compared to manufacturing companies because its business is primarily digital and software-based.

On financial inclusion, Cash App serves a significant number of unbanked and underbanked consumers in the United States. The service provides access to direct deposit, debit card payments, and basic financial tools without requiring a traditional bank account. Block has highlighted this as a social benefit, though critics note that Cash App's fees for instant transfers and bitcoin transactions can be higher than traditional banking alternatives for some users.

Block has faced scrutiny over its bitcoin products, with some consumer advocates arguing that bitcoin trading in a consumer payment app exposes unsophisticated users to financial risk. Block discloses risk warnings in its app and has implemented certain purchase limits. The company has not faced regulatory action specifically targeting Cash App's bitcoin features as of 2026.

Cash App and Block have faced several controversies and regulatory actions.

In 2022, Block disclosed that a former employee downloaded reports containing customer information for approximately 8.2 million current and former Cash App customers. The data included names, brokerage account numbers, and portfolio values. Block notified affected customers and offered free identity theft monitoring. The breach did not include passwords or payment card data, but it raised concerns about internal access controls at the company.

The Consumer Financial Protection Bureau has scrutinized Cash App's handling of disputed transactions and account closures. In 2024, the CFPB raised concerns about Cash App's dispute resolution process, noting that some customers had difficulty recovering funds from unauthorized transactions. Cash App has stated that it complies with applicable regulations and offers dispute resolution through its platform.

Block faced a data breach in April 2022 that affected Cash App Investing customers. The breach involved a former employee accessing customer data including full names and brokerage account numbers. Block reported the incident to regulators and offered affected customers free credit monitoring.

Cash App has faced criticism over its bitcoin trading fees, which can be higher than those charged by dedicated cryptocurrency exchanges. The company charges a spread on bitcoin purchases and sales, plus a service fee. Some consumer advocates have argued that Cash App does not adequately disclose the full cost of bitcoin transactions to users.

Block's broader controversies include a November 2024 report by Hindenburg Research that alleged Block overstated its user counts and facilitated fraud. Block denied the allegations and stated that its user metrics follow standard industry definitions. The report contributed to increased scrutiny of Block's financial reporting.