Jack Dorsey's payments firm Block Inc has become the latest target of Hindenburg Research.
Jack Dorsey’s payments firm Block Inc has become the latest target of Hindenburg Research.
The US-based short seller said its research involved numerous interviews with former employees, partners, and industry experts, as well as an extensive review of regulatory and litigation records and FOIA and public records requests.released on March 23rd, Hindenburg claimed that Block “does not seem to offer a discernible edge” over its key rival platforms such as PayPal/Venmo, Zelle, or Apple.
Accusations leveled against Block also involved boosting its revenue and user growth by facilitating billions of dollars of Pandemic-Relief fraud. It was this when the company shifted its focus to Cash App’s potential use in pandemic relief.
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