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Square changing corporate name to Block; crypto operation to be named Spiral
$Block (SQ.US)$ is changing its corporate name to Block as the company continues to focus on developing blockchain tech solutions.
Shares rise 1.1% in after-hours trading.
There will be no organizational changes as Square, Cash App, TIDAL and TBD54566975 will continue to maintain their respective brands.
As a result of the name change, Square Crypto, a separate initiative of the company dedicated to advancing Bitcoin, will also change its name to Spiral.
The legal name "Square, Inc." is expected to be officially changed to "Block, Inc." on or about Dec. 10 of this year, and the company's NYSE ticker symbol "SQ" will not change at this time, the company says.
"Block is a new name, but our purpose of economic empowerment remains the same," Square Co-founder and CEO Jack Dorsey says.
Previously, (Nov. 29) Square's CEO Jack Dorsey steps down as CEO of Twitter.
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emirsway : Meta, Block, Spiral, Out, A, Control, must have been some great Tunes of Musicak, along with all the other libations. Glad this group does not sell cars for their livelihood, speaking of livelihood you ever think about yours is like swirling down the sewer pipe?
Sweety Reality : So, when McDonalds first starting serving breakfast, they should have changed their name to McMuffin?
All this does is cause a lot of money to be spent on new stationery and business cards.
TBH, when I first saw this headline, I thought it might have been the latest column from The New Yorker's Andy Borowitz.
Timothy Roberts : If anyone at the Company knows how to throw one, please contact Detroit Lions General Manager Brad Holmes.
643YVeALhF : This is spiraling out of control
Selected one : Oh I see, they’re adding a third dimension. How clever.
Lashell Liffick Selected one : I don't think it has anything to do with dimensions. I think it's Block as in blockchain. As in going even deeper with this Bitcoin nonsense. Does anyone else here wish Dorsey had stuck with TWTR and left SQ instead?
Hotbuns Lashell Liffick : The blockchain side is a good move imo. A wealth of possibilities there to disintermediate through web 3.0. However, I'm hoping that the exclusive focus on Bitcoin would broaden. I believe that Ethereum will greatly outperform Bitcoin.
Muriel Melber Hotbuns : yes, ETH this cycle 4 sure...put your cash on the faster horse.
Wall Street newbie Lashell Liffick : NO, we need Jack on front lines of Bitcoin / Crypto development.
uqQFqKrltZ : Morons in the comments: OmG tHiS iS sO StOoPiD
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