TWO MONTHS after levelling serious allegations against Adani Enterprises' involvement in stock manipulation and accounting fraud, the US short-seller Hindenburg Research has launched a fresh attack on Jack Dorsey-led payments firm Block Inc, saying it "widely overstated" its user base.
Block Inc, is an American multinational technology conglomerate which is founded by Dorsey in 2009. Former Twitter co-founder and CEO of Block was left poorer by USD 526 million on March 23, after Hindenburg Research revealed that his digital payment company facilitates fraud against consumers and the government.
"The magic behind $SQ (Block) has not been innovation, but its willingness to mislead investors, facilitate fraud, avoid regulation and dress up predatory products as revolutionary tech," Hindenburg alleged in the report, published on Thursday, ANI reported.
Also ReadIf NASA Catches This Rare Asteroid Everyone On Earth Could Get $93 Billion!
The Hindenburg study stated that it conducted thorough regulatory and litigation record reviews, as well as conducting hundreds of interviews with former partners, workers, and industry experts. The report also claimed Block "wildly overstated" genuine user counts and "understated" customer acquisition costs for years.
On Thursday, Hindenburg accused Dorsey and James McKelvey along with executives, including Chief Financial...
DHAKA, May 4, 2026 (BSS) - A claim circulated on social media alleging that activists of BNP raped and murdered the daughter of an Awami League (AL) leader in Gazipur has been identified as false ...