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In the wake of a damning report by short-selling firm Hindenburg Research, Jack Dorsey’s Block Inc. (SQ) faced its worst week in over three years. NEW FROM US:Block—How Inflated User Metrics and "Frictionless" Fraud Facilitation Enabled Insiders To Cash Out Over $1 Billionhttps://t.co/pScGE5QMnX $SQ (1/n)— Hindenburg Research (@HindenburgRes) March 23, 2023 Hindenburg’s
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Hindenburg continued: "Our research indicates, however, that Block has wildly overstated its genuine user counts and has understated its customer acquisition costs. Former employees estimated that 40%-75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual." Source
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The MDK would be useful for integrating Bitcoin mining into multiple use cases such as heating solutions, off-grid mining, home mining, or intermittent power applications Jack Dorsey‘s Block Inc. has been o a mission to democratize the Bitcoin mining industry and reduce the barrier to entry for new individuals joining the
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Payments company Block, formerly known as Square, is delving deeper into the crypto mining industry with potential plans to build a “mining development kit.”A Mar. 7 blog post revealed that the Jack Dorsey-founded multinational technology firm was mulling its latest vision for advancing its Bitcoin (BTC) mining ambitions. Senior product
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TBD, a division of Block (formerly Square) led by CEO Jack Dorsey, launched a new venture named c= (pronounced c equals) to improve the Bitcoin Lightning Network through tools and services.The Lightning Network (LN) is a layer 2 payment network built to ease the mainstream adoption of Bitcoin (BTC) by enabling
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Jack Dorsey, the co-founder of the social networking platform Twitter, is progressing with Bluesky — a decentralized Twitter alternative — as its mobile application enters private beta testing.Bluesky has hit the Apple app store as an invite-only app, allowing certain persons to try out the new social experience by creating
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TBD envisioned Web5, a word that combines Web2 and Web3, to be “a public tool for good” which will be open to everyone and will build the next iteration of the internet. Although, a copyright or trademark of the term, which deters others to use it, seems to be opposite
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Digital payments company Block Inc. is pursuing legal action against Roger Ver’s Bitcoin.com over alleged trademark infringement involving its newly launched Verse token, which concluded a $33.6 million private sale in May 2022. In a letter addressed to Bitcoin.com CEO Dennis Jarvis and the company’s legal counsel Joseph Collement, lawyers representing
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Block, whose chairman and co-founder is Jack Dorsey, recorded an impairment charge of $2 million on its bitcoin investment during the third quarter. As of Sept. 30, the fair value of Block's bitcoin investment was $156 million based on “observable market prices,” which was $45 million greater than the carrying
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As Jack Dorsey and Elon Musk’s Messages call for a decentralized social media blockchain, DeSo could be the answer. The DeSo Foundation, a new layer-1 blockchain
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