Fact Check: CNN Did NOT Report That Cash App Went Bankrupt

Fact Check

  • by: Marlo Lee
Fact Check: CNN Did NOT Report That Cash App Went Bankrupt Did Not Happen

Did CNN report that Cash App went bankrupt and any funds a person had in their account would be given back to them in bankruptcy court? No, that's not true: Lead Stories did not find any evidence that CNN reported on this claim or that Cash App announced it was seeking bankruptcy court protection. At the time of writing, all of Cash App's services were up and running.

The claim appeared on Facebook (archived here) on September 7, 2023. It opened:

CNN just said Cash App went bankrupt and any funds you had in your account would have to be awarded to you through bankruptcy court😳

This is what the post looked like on Facebook at the time of writing:

Screenshot 2023-09-12 at 11.08.00 AM.png

(Source: Facebook screenshot taken on Wed Sep 13 15:05:48 2023 UTC)

The Facebook post did not provide any evidence to back up this claim.

Google News' index of thousands of reliable news sources did not yield (archived here) any articles confirming a bankrupt Cash App. Cash App's website has the status of all their services here (archived here) and, at the time of writing, all services were "Good to go." Lead Stories has emailed Cash App about the alleged bankruptcy and will update this article if a relevant response is received.

The Facebook claim also alleges that CNN reported on a bankrupt Cash App. We could not find a CNN article confirming this claim on cnn.com (archived here) or on Google News (archived here).

More Lead Stories fact checks on companies giving away money or merchandise can be found here, here and here.

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Marlo Lee is a fact checker at Lead Stories. She is a graduate of Howard University with a B.S. in Biology. Her interest in fact checking started in college, when she realized how important it became in American politics. She lives in Maryland.

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