Jack Dorsey dramatically shutters Block’s TBD crypto unit
Jack Dorsey, co-founder of Twitter Inc., speaks during the Bitcoin 2021 conference in Miami, Florida, U.S., on Friday, June 4, 2021.
Eva Marie Uzcategui | Bloomberg | Getty Images
During the crypto-crazed summer of 2021, when memecoins such as dogecoin and Shiba Inu were rocketing alongside bitcoin and ethereum, Square founder Jack Dorsey announced that his payments company was starting a new business unit, with the goal of “making it easy to create non-custodial, permissionless, and decentralized financial services.”
“Our primary focus is #Bitcoin,” Dorsey proclaimed on Twitter. The name of the business unit would be TBD.
In December of that year, Dorsey went a step further, changing the name of Square Inc. to Block, a reference, he said,…
