Hindenburg Research in its latest report has accused Jack Dorsey’s payment app for facilitating fraud against consumers and government, and misleading investors.
Hindenburg Report Wipes Out $526 Million From Jack Dorsey's Worth. After his worst single-day decline, Dorsey is now worth $4.4 billion, according to Bloomberg Billionaires Index.
Jack Dorsey is an American entrepreneur and programmer who is a co-founder and former CEO of Twitter.
He started the revolutionary payment app Square in 2009 which later rebranded into Block.
A small, square-shaped device attaches to iPhone, iPad, iPod Touch, or Android devices via the headphone jack, and as a mini card reader, allows a person to swipe their card, choose an amount to transfer to the recipient and then sign their name for confirmation.
Dorsey recently launched new social media platform Bluesky to compete against the rival micro blogging app Twitter.