Block is the subject of an NBC report published on May 1, 2024. According to the report, “Federal prosecutors are digging into internal practices at Block, the financial technology firm launched by Twitter co-founder Jack Dorsey, discussing with a former employee alleged widespread and yearslong compliance lapses at the company’s two main units, Square and Cash App, two people with direct knowledge of the contacts say.” Following this news, shares of Block dropped over 5% on the same day.