Jack Dorsey dramatically scales back crypto ambitions for Block [CNBC]
Block, Inc. Class A, (SQ)
Last block, inc. class a, earnings: 2/26 04:05 pm
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Source: CNBC
Block said on Thursday that it was “winding down” TBD after a stretch of layoffs. In his shareholder letter, Dorsey focused on the company's business lending offerings. During the crypto-crazed summer of 2021, when memecoins like dogecoin and Shiba Inu were rocketing alongside bitcoin and ethereum, Square founder Jack Dorsey announced that his payments company was starting a new business unit, with the goal of “making it easy to create non-custodial, permissionless, and decentralized financial services.” “Our primary focus is #Bitcoin ,” Dorsey proclaimed on Twitter. The name of the business unit would be TBD. In December of that year, Dorsey went a step further, changing the name of Square Inc. to Block , a reference, he said, to a number of things, including blockchain, the technology underpinning bitcoin. The Square Crypto business became known as Spiral. Three years later, Dorsey is in retreat. On Block 's third-quarter earnings call on Thursday, CFO Amrita Ahuja said
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SQ
Earnings
- 11/7/24 - Beat
SQ
Sec Filings
- 11/22/24 - Form 144
- 11/22/24 - Form 144
- 11/22/24 - Form 144
- SQ's page on the SEC website