Hindenburg Research Out Now: After building hype all over the global markets, Hindenburg Research finally dropped its latest report exposing Block Inc which was earlier known as Square Inc. The Hindenburg revealed how Block insiders were able to cash out over $1 billion by inflating User Metrics and fraud facilitation.
As per the report, Block Inc claims to have developed a “frictionless and magical financial technology” which is the flag bearer of the unbanked and underbanked. After investigating the platform and its process, Hindenburg Research concluded that the block has taken advantage of the term helping.
It claimed that Block has not had any disruptive innovation, while the firms in involved in fraud against customers and the authority.
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