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Block Is Buying Bitcoin Every Month for Its Balance Sheet

Block Is Buying Bitcoin Every Month for Its Balance SheetBlock Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. “We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around […]

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Jack Dorsey-Led Block Announces Plan To Invest 10% of Its Gross Profit From Bitcoin Products Directly Into BTC

Jack Dorsey-Led Block Announces Plan To Invest 10% of Its Gross Profit From Bitcoin Products Directly Into BTC

Jack Dorsey’s fintech conglomerate Block is now investing 10% of its gross profit from Bitcoin products directly into BTC itself. In a new announcement, the firm notes that it is making a strategic investment in the top crypto asset “following numerous positive developments both within the company and in the broader market.” “In April, Block […]

The post Jack Dorsey-Led Block Announces Plan To Invest 10% of Its Gross Profit From Bitcoin Products Directly Into BTC appeared first on The Daily Hodl.

North Korea’s Lazarus Group Exploited Defi Protocol Alex Lab for $4.3 Million, Probe Reveals

Jack Dorsey-Backed Initiative Donates $21M to Bitcoin Nonprofit Opensats to Bolster Development

Jack Dorsey-Backed Initiative Donates M to Bitcoin Nonprofit Opensats to Bolster DevelopmentAccording to the 501(c)(3) public charity Opensats, a nonprofit focused on supporting Bitcoin-related initiatives and efforts that contribute to Bitcoin’s success, Jack Dorsey’s philanthropic endeavor #startsmall has contributed $21 million to the organization. Bitcoin Development Nonprofit Opensats Receives $21M From Dorsey’s #Startsmall On May 3, Opensats disclosed receiving a $21 million contribution from Jack Dorsey’s […]

North Korea’s Lazarus Group Exploited Defi Protocol Alex Lab for $4.3 Million, Probe Reveals

Jack Dorsey’s Block to use 10% of Bitcoin profit to buy BTC every month

Block, Inc. co-founder Jack Dorsey told shareholders its Bitcoin-buying plan during an earnings call, saying its an “investment in a future where economic empowerment is the norm.”

Twitter co-founder Jack Dorsey said his fintech firm Block, Inc. will flip 10% of its gross profit made off its Bitcoin products into buying Bitcoin (BTC) every month.

“Going forward, each month we will be investing 10% of our gross profit from Bitcoin products into Bitcoin purchases,” Dorsey wrote in a May 2 shareholder letter inclusive of its better-than-expected first-quarter results.

“We were one of the first public companies to put Bitcoin on our balance sheet,” he added. Block bought $220 million worth of BTC across Q4 2020 and Q1 2021.

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North Korea’s Lazarus Group Exploited Defi Protocol Alex Lab for $4.3 Million, Probe Reveals

Jack Dorsey’s Block doubles down on Bitcoin, commits 10% of product profit to monthly BTC purchases

Jack Dorsey's Block will allocate 10% of its Bitcoin product profits to monthly BTC purchases as part of its commitment to the flagship crypto.

The post Jack Dorsey’s Block doubles down on Bitcoin, commits 10% of product profit to monthly BTC purchases appeared first on Crypto Briefing.

North Korea’s Lazarus Group Exploited Defi Protocol Alex Lab for $4.3 Million, Probe Reveals

Block, Inc. Q1 results top estimates, shares jump after-hours

Block’s first-quarter 2024 results beat Wall Street analyst estimates on earnings and revenue which saw its share price surge after the bell.

Fintech firm Block’s first-quarter results have beat Wall Street analyst revenue and earnings expectations which saw its shares jump after-hours.

On May 2, Block, Inc. posted its Q1 2024 results showing revenues of $5.96 billion — beating estimates from analytic firm Zacks by 3.54%.

Block’s earnings per share was $0.85 — up from Zack’s $0.62 per share estimate. Its Q1 gross profits reached $2.09 billion, up 22% from the year-ago quarter.

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Block Unveils Bitcoin Conversion Feature for Square Merchants 

Block Unveils Bitcoin Conversion Feature for Square Merchants On Wednesday, Block, the financial services firm, disclosed that merchants using Square can convert their daily sales into bitcoin through the Cash App. Block’s founder, Jack Dorsey, revealed this update on X, and as of today, merchants have the option to transfer between 1-10% of their Square-generated earnings into bitcoin, the leading crypto asset by […]

North Korea’s Lazarus Group Exploited Defi Protocol Alex Lab for $4.3 Million, Probe Reveals

Jack Dorsey’s Block Targets Chip Advancement With 3nm Bitcoin ASIC Mining Rig

Jack Dorsey’s Block Targets Chip Advancement With 3nm Bitcoin ASIC Mining RigOn Tuesday, Jack Dorsey, the founder of Block, took to X to announce that the company is “building a mining rig.” Dorsey also shared a blog post authored by Block’s lead for mining hardware products, Naoise Irwin. The post revealed enhancements in the chip design, upgrading from the initially planned 5-nanometer (nm) process to an […]

North Korea’s Lazarus Group Exploited Defi Protocol Alex Lab for $4.3 Million, Probe Reveals

Bitcoin miner Marathon mines invalid block in failed ‘experiment’

Marathon said the bug emanated from its experimental mining pool used to research ways to optimize operations.

Bitcoin mining firm Marathon Digital has confirmed it mined an invalid  Bitcoin (BTC) block during an “experiment” aimed at optimizing the firm’s operations.

In a Sept. 27 post, Marathon said it utilizes a small percentage of the firm’s hashrate toward these experiments and stressed they weren’t trying to alter the network in any way:

“In no way was this experiment an attempt to alter Bitcoin Core in any way.” Marathon said, emphasizing that they corrected the error as soon as they noticed the invalid block.

Marathon said the bug, which emanated from the firm’s internal development environment, wasn’t related to Marathon’s Bitcoin production pool or Bitcoin Core — the leading software used to connect to the Bitcoin network and run a node.

The incident occurred on Sept. 26 at 9:42 pm UTC on block 809478, according to mempool.space.

Several Bitcoin developers, along with BitMEX Research attributed the invalid block to a “transaction ordering issue.” Bitcoin developer “mononaut” believes Marathon mistake came from resorting the transactions in order of ascending absolute fees.

Bitcoin analyst Dylan LeClair suggested that Marathon should have conducted this experiment on a testnet before attempting it on Bitcoin’s mainnet.

In reflection, Marathon said Bitcoin “functioned exactly as designed” by excluding the invalid block:

“This incident, while unintended, underscores the robust security of the Bitcoin network, which rejected and rectified the anomaly.”

Related: Marathon Digital Q2 results miss revenue and earnings forecasts

Cointelegraph reached out to Marathon for comment but did not receive an immediate response.

Marathon’s (MARA) share price fell 2.91% to $8.01 during opening hours on Sept. 27, according to Google Finance.

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Jack Dorsey courts controversy by claiming ETH is a security

Since Binance and Coinbase were sued for offering unregistered securities, the longtime Bitcoin advocate has tweeted posts promoting a focus on BTC development.

Long-time Bitcoin (BTC) advocate Jack Dorsey has found himself in a Twitter war with several crypto industry pundits after he responded with “yes” to a question asking if Ether (ETH) was a security.

The comment caught the attention of Udi Wertheimer, a Bitcoin Ordinals developer at Taproot Wizards, who inferred Dorsey was a “clown” in a tweet on June 6.

In response, Dorsey tweeted, “ETH is not a security? Teach me wizard,” which prompted Wertheimer to share a five-year-old video of the United States Securities Exchange CommissionChair Gary Gensler stating that ETH was now “sufficiently decentralized” and wasn’t a security.

However, Gabor Gurbacs, strategy adviser to stablecoin issuer Tether and investment management firm VanEck, weighed in on Wertheimer’s comment, stating that Ethereum’s recent transition to proof-of-stake may have re-triggered securities laws.

The online scuffle comes in light of the SEC filing lawsuits against cryptocurrency exchanges Binance and Coinbase on June 5 and 6 for allegedly offering tokens considered to be unregistered securities.

Dorsey also tweeted and implied approval of a screenshot of a post by Coinbase CEO Brian Armstrong in 2015, where he referred to altcoins as a “distraction” and that Coinbase should instead “be focused” on Bitcoin.

Dorsey continued on his pro-Bitcoin tweeting streak and retweeted a video of Jack Mallers — CEO of Bitcoin Lightning application Strike — calling out Armstrong for choosing to prioritize altcoins over building on Bitcoin and the Lightning Network.

Related: Jack Dorsey tips pro-crypto candidate Robert Kennedy to win presidency

When Dorsey was in charge of Twitter in 2021 the company sold 140 Ethereum-based nonfungible tokens (NFTs) but he rejected investing in Ether at the time.

Dorsey also downplayed Ethereum’s development in August 2021 when he claimed that Ethereum alone wouldn’t be able to disrupt big tech.

Dorsey recently provided funding and became an advocate for Nostr, a decentralized “Twitter killer” network that integrates Bitcoin Lightning-based payments on the “Damus” platform.

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