Jack Dorsey – Ƀitsell X

Jack Dorsey Envisions Bitcoin Replacing US Dollar — Foresees BTC Reaching $1 Million

July 8, 2024

Billionaire Jack Dorsey foresees a future where bitcoin could supplant the U.S. dollar as the dominant global currency. He envisions a scenario where bitcoin’s value could soar to $1 million by 2030. Highlighting the cryptocurrency’s decentralized nature, Dorsey underscores its potential to democratize financial systems and reduce reliance on traditional banking institutions. Jack Dorsey Anticipates…
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Bitcoin Proponent Bruce Fenton Calls Out Jack Dorsey Over Censorship Allegations During Twitter Tenure

July 7, 2024

Over the weekend, a prominent personality in the bitcoin and blockchain sector, Bruce Fenton, addressed Jack Dorsey, CEO of Block, Inc., through a post on the social media platform X. Fenton asserts that Dorsey owes an explanation, as Twitter’s senior leadership has faced accusations of orchestrating one of the most significant acts of censorship in…
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Latam Insights: Paraguay Shuts Down Largest Illegal Bitcoin Mining Farm to Date, Argentina and El Salvador Discuss Bitcoin

June 3, 2024

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguay shut down the largest illegal bitcoin mining operation to date, Argentine and Salvadoran officials met to discuss bitcoin issues, and Ocean launched a global hub in El Salvador. Paraguayan Authorities Shut Down…
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Block Is Buying Bitcoin Every Month for Its Balance Sheet

May 5, 2024

Block Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. “We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around…
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Jack Dorsey-Backed Initiative Donates $21M to Bitcoin Nonprofit Opensats to Bolster Development

May 4, 2024

According to the 501(c)(3) public charity Opensats, a nonprofit focused on supporting Bitcoin-related initiatives and efforts that contribute to Bitcoin’s success, Jack Dorsey’s philanthropic endeavor #startsmall has contributed $21 million to the organization. Bitcoin Development Nonprofit Opensats Receives $21M From Dorsey’s #Startsmall On May 3, Opensats disclosed receiving a $21 million contribution from Jack Dorsey’s…
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Block to Reinvest 10% of Profits into Bitcoin Each Month

May 3, 2024

Jack Dorsey-led Block announced plans to allocate 10% of profits from its Bitcoin products toward buying more of the cryptocurrency each month, its quarterly report published Thursday showed. Block was one of the first public companies to add Bitcoin to its holdings in 2020. With an initial investment of $220m, its Bitcoin holdings have surged…
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Jack Dorsey’s Block’s Crypto Unit Under Investigation Over Compliance Practices: Report

May 2, 2024

Federal prosecutors have launched an investigation into Block, the financial technology company co-founded by Twitter’s Jack Dorsey. The investigation focuses on alleged compliance lapses at its central units, Square and Cash App. Sources with direct knowledge of the matter revealed that discussions with a former employee have undisclosed documents highlighting various shortcomings in compliance practices, as…
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Jack Dorsey’s Block Faces DOJ Probe Over Alleged Transactions With Sanctioned Nations and Terrorist Groups

May 2, 2024

Department of Justice (DOJ) federal prosecutors from the Southern District of New York are investigating fintech company Block, formerly known as Square, for significant compliance failures in its transaction monitoring systems after a former employee revealed lapses that included processing transactions with sanctioned nations and groups linked to terrorism. Allegations against Block include handling transactions…
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Acinq to Withdraw Phoenix Wallet From US Markets Amid Regulatory Concerns

April 27, 2024

On Friday, April 26, Acinq announced that its Lightning Network bitcoin wallet, Phoenix, will cease services for U.S. residents from May 3, 2024. This announcement followed closely on the heels of the Samourai Wallet indictment and what is perceived as a targeted U.S. government effort against financial privacy and non-custodial solutions. Lightning Network Platform Phoenix…
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Block Unveils Bitcoin Conversion Feature for Square Merchants

April 25, 2024

On Wednesday, Block, the financial services firm, disclosed that merchants using Square can convert their daily sales into bitcoin through the Cash App. Block’s founder, Jack Dorsey, revealed this update on X, and as of today, merchants have the option to transfer between 1-10% of their Square-generated earnings into bitcoin, the leading crypto asset by…
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Category: Jack Dorsey