Jack Dorsey News

Short-sellers are cashing out after US-based payments firm Block’s stock plunged on the back of a critical Hindenburg Research report.

Payments company Block, formerly known as Square, is delving deeper into the crypto mining industry with potential plans to build a “mining development kit.”

TBD, a division of Block (formerly Square) led by CEO Jack Dorsey, launched a new venture named c= (pronounced c equals) to improve the Bitcoin Lightning Network through tools and services.

Crypto cycles aren’t for the faint-hearted. As the industry continues to evolve from the cypherpunks into the mainstream, we can expect a lot of growing pains. The dumpster fire that was 2022 may have scared off many companies interested in exploring the sector. Case in point: Visa and Mastercard’s embrace of crypto may have hit a snag thanks to the bear market and unclear regulations.

On Mar. 1, nearly two years after Jack Dorsey's technology conglomerate Block (known as Square at the time) announced plans to build a self-custodial Bitcoin wallet, the company revealed that more work still needs to be done regarding its plans and that Block is actively seeking partners "to make this a reality." As told by Block, partnerships are required to move assets between fiat and Bitcoin financial systems and provide users with the access and information they need to buy, sell, and store bitcoin securely and easily. 

Twitter suffered another outage on March 1 as thousands of users flagged issues with Elon Musk’s social media platform. The outage took place as Twitter founder Jack Dorsey’s new project, Bluesky, went into beta testing.

Jack Dorsey, co-founder of the online microblogging service Twitter, is progressing with Bluesky, a decentralized Twitter alternative, as its mobile application is now being tested in private beta.

Jack Dorsey’s payment company Block Inc. reported $1.83 billion of Bitcoin (BTC) revenue from its Cash App business unit in the fourth quarter, representing a 7% fall from the same time last year.

Bitcoin’s Lightning Network (LN) capacity recently surpassed an all-time high of 5,000 BTC. 

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Decentralized social network Damus teased an upcoming feature in its app that would allow users to earn Satoshi — the smallest fraction of Bitcoin (BTC)  — based on post engagement on the platform.

Damus, a so-called “Twitter killer” built on a decentralized network has been approved on the Apple App Store.

[content][quote]Market Story[/quote][title]Dogecoin outperforms top 10 coins, experiences significant 8.1% increase[/title][body]On Tuesday, the cryptocurrency market experienced little change with the exception of Dogecoin which saw a notable 8.1% increase.> TradingView reported that Bitcoin dipped 0.3% to $23,117 while Ether also saw a 0.3% decrease, settling at around $1,583. Binance Coin saw a small 1.1% rise, while Cardano's ADA declined by 0.7%.> Meanwhile, Polygon's MATIC experienced a 1.7% increase following a decrease the previous day.> Both Dogecoin and Shiba Inu, two memecoins with a dog theme, saw growth with Dogecoin rising by 8.1% and Shiba Inu by 0.5%.> In the stock market, Silvergate shares climbed 4.5% to around $13 by 10:00 AM, as reported by Nasdaq data.> Other crypto stocks, including Block led by Jack Dorsey, saw a 2.2% rise to trade at around $82, while MicroStrategy rose 2.5%. Coinbase also saw growth with a 1% increase.[/body][/content]

The share price of cryptocurrency exchange Coinbase has surged by 69% since its all time lows and other crypto-related stocks including business intelligence firm MicroStrategy have recorded similar jumps with green candles all around since the start of 2023.

Talk of decentralized social media platforms continue to gain significant traction, with users becoming increasingly concerned with the centralized nature of traditional platforms and the potential for censorship. Even the former CEO of Twitter, Jack Dorsey has publicly pushed for a decentralized Twitter alternative. 

Cryptocurrencies are often dismissed as vehicles for speculation — an asset class that lacks intrinsic value.

With the internal investigation led by Elon Musk identifying censorship-related issues on Twitter, the social platform’s former CEO Jack Dorsey has promoted the idea of a “free and open protocol” for social media. 

The depths of a bear market may not be the best time to raise funds but that is exactly what Blockstream is doing.

Digital payments company Block Inc. is pursuing legal action against Roger Ver’s Bitcoin.com over alleged trademark infringement involving its newly launched Verse token, which concluded a $33.6 million private sale in May 2022. 

It's barely been a decade since the launch of Web3, and some are already talking about the next generation of the web Web5.