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FTC Investigates Block Over Freezing of Customer Funds

Quartz ·

XYZ Block Inc
$77.24 +2.67%
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  1. 1The Federal Trade Commission is investigating whether Block violated consumer protection laws.
  2. 2Customers claimed they have been unable to access $2.5 million in frozen or deactivated funds since 2022.
  3. 3Block implemented a workforce reduction of over 40% in early 2026.

So what's the key point?

The Federal Trade Commission is investigating Block to see if customer funds were held back. The company is facing issues because customers claim they cannot access $2.5 million.

Source Quartz · View original ↗

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