In the second quarter, Block Inc.'s Square and Afterpay businesses saw traffic declines, but the company's Cash App mobile wallet remained a strong performer. Block is set to report earnings on Wednesday, August 3.

With its name change from Square to Block at the end of 2021, Block Inc. signaled it wanted to make Bitcoin and applications of the blockchain more central to its business – but given the current cryptocurrency crash, the company is fortunate to have a solid foundation independent of crypto.