Block shares fall 20% after Hindenburg says firm facilitates fraud
After Hindenburg Research accused Twitter Founder Jack Dorsey's company Block of "frictionless" fraud that inflated user metrics and enabled insiders to cash out over $1 billion, Block's shares fell 20%. "Our two-year investigation has concluded that Block has systematically taken advantage of the demographics it claims to be helping," the short seller said in a note published on its website.