who is Nathan Anderson
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Stock boom, 80 thousand crores were lost
Block’s shares fell more than 20 percent after the Hindenburg disclosure. After dominating the sale of the company’s shares in the stock market, the company suffered a loss of Rs 80,000 crore within a few hours. Block Inc’s market cap fell below $40 billion. , The market cap of the block was $ 47 billion till the day before this report, which fell to $ 37 billion. Within a few hours, the company suffered a setback of $10 billion. Block Inc has suffered a setback of 80 thousand crores after Hindenburg’s report. The company exaggerated the number of its users and
Block Inc is a payment platform
Block Inc.’s business was greatly boosted during the Corona pandemic. During this, transactions of more than Rs 5.1 crore were done every month through this cash app. Cash App made big money. In his report, Hindenburg said that the company had misused the reliefs being received by the government during Corona.
Who is Jack Dorsey?
Hindenburg Research accused American businessman Jack Dorsey’s payment firm Block Inc of fraud. Jack has been the co-founder of the microblogging platform Twitter. He took charge of Twitter from 2015 to 2021. After leaving Twitter in the year 2021, he launched his new platform BlueSky. He launched the BlueSky app to compete with Twitter. Through this app also users can follow like Twitter. You can keep your words. He then introduced the block. More than 5.1 crore transactions took place during the Corona period through his app. While talking about Jack, he was born in the year 1976 in St. Louis, USA. He left his studies in between. Leaving studies, he started working as a programmer.
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