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Block Responds to Short Seller’s Allegations of Fraud

By
Ann Gehan
· · Source: The Information

Block responded to allegations of rampant fraud and inflated user numbers on Cash App raised last week by short seller Hindenburg Research, saying that most of its 51 million monthly active accounts were linked to people who had verified their identities. In a document distributed to investors on Thursday, Block acknowledged that it allows customers to maintain multiple accounts, but...

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