Block, the payments processing company formerly known as Square, said revenues fell compared to one year ago, as consumer demand for bitcoin transactions ebbed. The company posted a net loss for the quarter and had negative cash flow from operations. The stock fell 7% after hours. Revenues fell 5.9% year over year to $4.4 billion, driven by a decline in bitcoin revenues, which fell 34%. Last...
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Blackstone Plans to Back Tech Startups in $2 Billion–Plus Lending Push
Private equity giant Blackstone is gearing up to make its first major push into lending to startups and technology companies—joining a corner of the debt market that’s quickly heating up. The firm expects to invest at least $2 billion in technology debt deals over the next few years, including venture debt, deals with pre–initial public offering startups and deals with...
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