Payments Company Square is in Block Inc. renamed, crypto service will be called spiral -
Payments Company Square is in Block Inc. renamed, crypto service will be called spiral -
According to Jack Dorsey's declaration of withdrawal on Monday, Dorsey's payment company Square Inc. announced two days later that it is renovating and changing its name to Block Inc. The company said the name Block had "many associated meanings", including the term "blockchain". ”
Square changes its name in "Block" - Square Crypto is renamed "Spiral"
On Wednesday, Square Inc., who founded in 2009 by Jack Dorsey and Jim McKelvey, decided, change its name "Meta". The message follows Jack Dorseys Cancellation declaration declared on Monday that he would resign from Twitter as a CEO. "We built the Square brand for our seller business where it belongs," said Jack Dorsey, co -founder and CEO of Block, during the announcement on Wednesday. Dorsey added:
block is a new name, but our goal of economic strengthening remains the same. Regardless of how we grow or change ourselves, we will continue to develop instruments to improve access to the economy.
since Dorsey has resigned, many people think that the step for Bitcoin is advantageous and that Dorsey’s Earlier statements reflect that he wants to work in the world of cryptocurrencies. The announcement of the Square name change also mentions the blockchain technology and further shows that Square's subsidiary Square Crypto will also change her name.
"The change in the name in block differentiates the company unit from its shops or building blocks," says the announcement of the renaming. "There will be no organizational changes and Square, Cash App, Tidal and TBD54566975 will continue to keep their respective brands. A fundamental workforce that includes teams such as Counsel, People and Finance will continue to help to lead the ecosystem at the company level." The blog post of the payment company adds:
As a result of the change of name, Square Crypto, a separate initiative of the company that is devoted to the further development of Bitcoin, change its name in Spiral.
"building blocks and blockchain" - shares of the payment company slide after the renaming by almost 2%
The name, according to the company, has various meanings for the company. The name Block stands for "building blocks, neighborhood blocks and their local shops, communities that come together at block parties full of music, a blockchain, a code section and obstacles that need to be overcome," concludes the announcement.
The company's shares reached a high of $ 197.95 on Wednesday, but have since fallen by 1.74% to $ 194.50 per unit. 30-day indicators show that the block share of 22.96% of the 30-day high of the share on November 3 fell at $ 252.48 per share. Since the beginning of the year, the shares of the payment company have been Volatil and fluctuated from $ 226 per share to the high in 2021 of $ 281 per share on August 5th.
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