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Square Rebrands as Block Inc., Dorsey to Make Bitcoin More Than An Investment -Breaking

by Mike Robinson

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Square Rebrands As Block Inc. Dorsey To Make Bitcoin More Than Just An Investment

Jack Dorsey is a Bitcoin advocate and co-founder at Twitter (NYSE:) as well as Square. He announced that he will be resigning as CEO of Twitter to concentrate on his passions.

Jack Dorsey, Twitter’s CEO and former chief executive officer, announced on December 1 that the company name of payment giant Square has been changed to Block Inc. This new name will take effect on December 10th.

Spiral, the new name for Square Crypto Service’s subsidiary has been added. According to Dorsey, the name was changed because having “crypto” in its name led to confusion, as Square is focused solely on Bitcoin.

Make Bitcoin more than an investment
Clarifying the name change, Dorsey said that Square will now only represent Block’s Seller business as the payment platform was initially created to be independent of Square.

In addition, the payment giant has updated its goal, stating that Spiral is now dedicated to building and funding “open-source projects aimed at making bitcoin the planet’s preferred currency.”

Square Twittered to confirm its new name.

Flipside

  • Jack Dorsey was criticized for leaving Twitter. However, Dorsey says he doesn’t care about “looking bad.”

Why you should care

Jack Dorsey has been one of the biggest proponents of Bitcoin adoption, and his departure from Twitter will allow him more time to focus on crypto, like his decentralized exchange – tbDEX

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