[Updated] No, Cash App is not shutting down: Here's what we know
New updates are being added at the bottom of this story…….
Original story (published on April 6, 2023) follows:
Cash App is a popular mobile payment service that operates in the United States and the United Kingdom. It allows users to transfer money to one another directly from the mobile app.
It was initially released in October 2013 by Bob Lee and gradually managed to capture fair amount of userbase. In September 2021, the service reported 70 million annual users and US$1.8 billion in gross profit.
However, in a recent tragic incident, Bob Lee, the founder of Cash App was stabbed to death. The incident took place in San Fransisco on Tuesday, April 4.
The reason behind the murder of the Cash App founder is unclear as the police are yet to release the details of any possible suspects.
Is Cash App shutting down?
Surprisingly, this whole incident has left users of Cash App anticipating that the service would shut down now that the founder himself is dead.
This has also led to some users asking if the app is actually shutting down. Here are some reports for reference:
is cashapp finna shut down??? lmk so i can move money (Source)
Cash app shut down people get it rolling I’m shutting it down tf is a “cash” “app” (Source)
Some ppl need to learn about business fr. Saying cash app gone shut down cus the owner died jus shows she don’t know what she talking bout 1 man don’t stop no money especially in that bracket (Source)
It appears that this is just a baseless rumor and the Cash App is not actually shutting down. Also, there is no official confirmation of the same.
Hence, users of Cash App can find solace in knowing that the service isn’t shutting down, at least for now. And thus, they can continue to use the app.
Rest assured, we will update this article as and when we come across anything noteworthy.
Update 1 (April 07, 2023)
04:10 pm (IST): Recent reports suggest that the US government is planning to release a Cash App-like app for payments. However, the unfortunate timing of these events have led to some forming absurd conspiracy theories (1,2).
So Cash App’s Founder is mysteriously murdered 3 months before the US Federal Reserve launches their own digital banking system in July called FedNow and they expect us to believe that wasn’t planned?
Do note that these are just theories that are not backed by facts. We recommend our readers to stay neutral on this matter until any solid evidence is presented.
Update 2 (April 10, 2023)
04:45 pm (IST): It’s worth noting that Block, Inc. is the publicly traded parent company of Cash App. So, even though the platform’s founder loss is unfortunate, it has no impact on how it functions on a day-to-day basis.
Update 3 (April 12, 2023)
However, there’s a high chance that this is just a coincidence as digital platforms like Cash App tend to experience such technical issues fairly often.
Update 4 (June 26, 2023)
09:34 am (IST): For some unknown reason, the rumors about Cash App shutting down have resurfaced in the last few hours (1, 2, 3). However, there is still nothing official about it, so users can rest easy.
Update 5 (June 28, 2023)
Update 5 (June 30, 2023)
Update 6 (July 6, 2023)
04:29 pm (IST): Cash App platform is currently facing an issue where deposits are delayed, and users are not happy.
Note: We have more such stories in our dedicated apps section, so be sure to follow them as well.
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