BIG BREAKING BY HINDENBURG, After Adani, Next Big Target Revealed by Hindenburg
- Posted on March 23, 2023
- BREAKING NEWS
- By Top Stories
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AFTER ADANI, It's BLOCK Inc under scanner, New report released by Hindenburg
After Adani, Next Big Target Revealed by Hindenburg Report- Read the Details First Here only.
Yes, this is correct. After Adani, next target of Hindenburg is Block Inc. Revealing the fraud on its website the Hindenburg wrote-
“Our 2-year investigation has concluded that Block has systematically taken advantage of the demographics it claims to be helping. The “magic” behind Block’s business has not been disruptive innovation, but rather the company’s willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics.”
Block Inc., formerly known as Square Inc., is a $44 billion market cap company that claims to have developed a “frictionless” and “magical” financial technology with a mission to empower the “unbanked” and the “underbanked”.
Block Inc., formerly known as Square Inc., is a financial technology company that provides a variety of services, including payment processing, small business loans, and mobile payments. The company was founded in 2009 by Jack Dorsey, who is also the co-founder and CEO of Twitter.
Read here the original matter https://hindenburgresearch.com/block/
Block's main product is the Square Point of Sale system, which allows merchants to accept credit card payments through a mobile device. The company has expanded its services to include other financial products such as Square Capital, a lending program for small businesses, and Cash App, a mobile payment app that also allows users to buy and sell Bitcoin.
In terms of its mission, Block has stated that it aims to provide financial services to the unbanked and underbanked populations, who often lack access to traditional financial institutions. The company has also emphasized the importance of creating a "frictionless" and "magical" user experience, with the goal of making financial transactions as easy and seamless as possible.
Previous report of the Hindenburg has caused a loss of approx. 60 percent of its assets for Adani Group. Now it is to be seen what effect it will make on Blcok Inc.