welcome
About us
Newsletter
News Widget
Media Inquiries

Summary

Fintech Industry's Rapid Growth

This is a news story, published by MSN, that relates primarily to Jack Dorsey news.

Jack Dorsey news

For more Jack Dorsey news, you can click here:

more Jack Dorsey news

crypto trading & speculation news

For more crypto trading & speculation news, you can click here:

more crypto trading & speculation news

MSN news

For more news from MSN, you can click here:

more news from MSN

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like crypto trading & speculation news, you might also like this article about

fintech tycoons

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest fintech news, Flailing Crypto Business news, crypto trading & speculation news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

fintech sector
Futurism

Futurism

•

Business

Business & Economics

Jack Dorsey's Flailing Crypto Business Is Laying Off More Than 900 Employees

Futurism
Summary
Nutrition label

72% Informative

Twitter cofounder Jack Dorsey announced the layoffs of 931 Block employees, 8 percent of the company's total staff.

Block encompasses massive fintech platforms like Cash App and Square, as well as more boutique crypto outfits like Bitkey , a digital crypto wallet started in 2023 .

In 2023 , a scathing report by Hindenburg Research claimed that Block had dramatically overhyped its user counts, facilitated fraud and preyed on low-income users.

VR Score

65

Informative language

59

Neutral language

22

Article tone

semi-formal

Language

English

Language complexity

51

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

18

https://web.archive.org/web/20250323123206/https://tbd.website/https://futurism.comhttps://x.com/jack/status/1415765941904941061https://www.globenewswire.com/news-release/2025/02/06/3022314/28124/en/FinTech-Blockchain-Global-Industry-Report-2025-Decentralized-Finance-DeFi-to-Bridge-the-Huge-SME-Financing-Gap-to-Boost-Blockchain-Adoption.htmlhttps://techcrunch.com/2025/03/25/read-the-email-jack-dorsey-sent-when-he-cut-931-of-blocks-staff/https://ilr.law.uiowa.edu/sites/ilr.law.uiowa.edu/files/2023-02/Odinet.pdfhttps://www.vox.com/the-goods/2022/8/11/23298175/buy-now-pay-later-affirm-klarna-apple-pay-late-fees-cfpbhttps://futurism.com/elon-investors-gullible-twitter-xhttps://www.web3isgoinggreat.com/?id=tbd-announces-they-will-trademark-web5https://www.statista.com/forecasts/1443795/revenue-fintech-market-for-different-segments-united-states#:~:text=The%20revenue%20of%20the%20fintech,billion%20U.S.%20dollars%20in%202028.https://futurism.com/jack-dorsey-block-layoffshttps://www.theatlantic.com/ideas/archive/2024/12/how-bitcoin-became-boring/681141/https://www.cnbc.com/2024/11/08/jack-dorsey-dramatically-shutters-blocks-tbd-crypto-unit.htmlhttps://techcrunch.com/2024/11/07/block-scales-back-tidal-investment-and-shutters-tbd-in-favor-of-bitcoin-mining/https://wealthion.com/raoul-pal-tech-boom-will-drive-crypto-the-economy-to-infinite-growth/https://techcabal.com/2025/03/26/why-is-crypto-down-key-reasons-behind-market-declines/https://www.bcg.com/press/3may2023-fintech-1-5-trillion-industry-by-2030https://hindenburgresearch.com/block/

Source diversity

15

web.archive.orgfuturism.comx.comwww.globenewswire.comtechcrunch.comilr.law.uiowa.eduwww.vox.comwww.web3isgoinggreat.comwww.statista.comwww.theatlantic.comwww.cnbc.comwealthion.comtechcabal.comwww.bcg.comhindenburgresearch.com

Affiliate links

no affiliate links

Read full article

Small business owner?

Otherweb launches Autoblogger—a revolutionary way to bring more leads to any small business, using the power of AI.

Powered by Otherweb