According to TechFlow, on July 18, Bloomberg reported that Cash App, a crypto trading app owned by Block Inc., plans to shut down its business in the UK on September 15. Cash App was first launched in the UK in 2018, making it its first international market. Block said the move was to focus on the US market and reduce the priority of global expansion. Despite the closure of its UK business, Block's other operations are not affected. Block reported a total profit of $2.09 billion in the first quarter of 2024, of which Cash App contributed $1.26 billion globally.