Hindenburg’s attack on Block, the company led by Twitter founder and former CEO Jack Dorsey, comes two months after the short seller’s allegations against Adani Group erased billions of dollars from the Indian conglomerate’s balance sheets. Hindenburg says it led a two-year investigation into Block, which also owns Square, Weebly, Afterpay and music-streaming service Tidal, and that found that “Block has systematically taken advantage of the demographics it claims to be helping.
” It also references a quote from Sara Crowe, senior director at the anti-human trafficking nonprofit Polaris Project, where she says that “when it comes to sex trafficking in the US, by far the most commonly referenced platform is Cash App.” Hindenburg alleges that there is even a Baltimore-based gang named after Cash App. In 2021, members of the “Cash App” gang were charged with distributing fentanyl, the report said. CNN reached out to Block for comment, but has not immediately heard back.
Couldn't predict SV Bank and Credit suisse, just preying on gullibles