This incident has been resolved.
After monitoring, we determined that a version of the Blocks API which began rolling out at approximately 3:00 PM PDT had an incorrectly configured client for one of our new internal services. This client began throwing errors because it could not reach its internal service due to a wrong internal DNS reference.
We first rolled back to a previous version of the Blocks API (from this morning at 9:00 AM) and confirmed that the API was functional (no 5xx reported and e2e tests all passing).
We subsequently rolled out updates to correct the wrong internal DNS reference and also re-configured the client to not crash the API when incorrectly configured.