The Frontier

BitKey is a seedless multisig wallet with three keys. Pollack explains users hold two keys: one on the hardware and an encrypted app key uploaded to cloud storage, while Block holds a third key that cannot view transactions due to chaincode delegation.

Guillermo Rauch announced Vercel is open-sourcing a reference platform for cloud coding agents, aiming to help others build the type of internal systems companies like Stripe, Ramp, Spotify, and Block use.

The Chinese government mandates safety checks for AI models that can 'mobilize society,' requiring clearance to ensure they don't answer politically sensitive questions about topics like the Tiananmen Square massacre.

Q1 2026 saw a "SAS apocalypse" as investor concern shifted from AI's potential insufficiency to its disruptive power, evidenced by Block cutting 40% of its staff, alongside substantial AI company revenue growth.

Block reported that 100% of its employees now use AI tools, leading to a 26% earnings beat and a 50% forecast increase for next year's earnings per share.

Cash App now offers 5% Bitcoin rewards on payments made through Square terminals.

Block's Cash App gross profit grew year-over-year, with the company highlighting gross profit as a key metric because revenue is distorted by Bitcoin trading volume.

Jack Dorsey indicated Block is evolving into an intelligence company during the earnings call, signaling a strategic shift beyond its current financial products.

Block Inc. reported a $173 million Bitcoin revaluation loss in Q1 2026, contributing to a net loss of $39 million, but raised full-year guidance citing solid operational execution.

Block holds 28,355 Bitcoin worth about $2.2 billion; total gross profit grew 27% year-over-year to $2.9 billion, with Cash App gross profit up 38% to $1.91 billion.

Bitcoin-related revenue across Block was approximately $28 million, largely offset by costs, with negligible impact on gross profit.

AntPool, Block Inc., F2Pool, Foundry, Spider Pool, Mara Foundation, and Demand joined the Stratum V2 working group to advance adoption of the open, vendor-neutral mining protocol.