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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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The Hindenburg allegations drive home the deep conflict of interest inherent to this dynamic. Whether or not it was a conscious, deliberate strategy, Cash App’s popularity for illicit transactions did, in whatever small way, feed into its bottom line. This is even more obvious and direct when banks cater to
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Block said it is working with the SEC on how to “explore legal action against Hindenburg Research for the factually inaccurate and misleading report”. American multinational financial technology giant Block Inc (NYSE: SQ) is currently under intense pressure following a damning report from short seller, Hindenburg Research. According to the report,
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A report following a two-year investigation from Hindenburg Research claimed digital payments company Block had “systematically taken advantage of the demographics it claims to be helping,” alleging the firm inflated its user metrics and facilitated fraud.According to the March 23 report, Hindenburg Research said Block’s practices allowed users to set
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Forensic research platform Hindenburg Research has teased another report amid the ongoing US banking crisis. Following its Adani report, US short-seller Hindenburg Research says it will release a new report on another target soon. The New York-based research firm did not specify the next release and provided no details about timing
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Short-selling research firm Hindenburg Research is to offering a bounty of up to $1 million for information that can uncover details about stablecoin Tether’s backing.The firm said it “has doubts” about Tether’s backing and is launching the Hindenburg Tether Bounty Program to encourage a search for previously undisclosed details about
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