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Jack Dorsey’s Square Rebrands To “Block” Days After Twitter Resignation

After stepping down as Twitter’s CEO, rumors flourished about Jack Dorsey doubling down on building the Bitcoin network. Greater evidence of those suspicions has just emerged. 

Dorsey’s digital payments company “Square” just announced a Facebook-esque rebranding to “Block”. The Bitcoin community has interpreted this as a public commitment to Bitcoin’s “blockchain”.

Square Goes Three-Dimensional

The financial services company revealed its new name in a Twitter thread earlier today. Apparently, the company is preparing to give “the full square brand” to its seller business. That includes all related apps and projects, being Square, CashApp, Tidal, and TBD – the developing Bitcoin DEX.

Shortly before Square’s announcement, Block’s newly formed Twitter account made itself public.

“Block is @Square, @CashApp, @spiralbtc, @TIDAL, @TBD54566975, and our foundational teams who support them,” said the company. “We’re here to build simple tools to increase access to the economy.”

The Twitter bio for the new company reads “Building blocks”. As Square’s thread on the subject states, the block-themed rebranding is partially a reference to blockchain, among other things.

Square maintains that while its name has changed, its purpose, vision, structure, and operations have not. Its ticker on the NYSE will also remain “SQ”.

Perhaps most notably, the company also made some tongue-in-cheek comments deriding the “Metaverse” and NFTs.

“You’ll be happy to know our logo is futureproof: it’s ready for the meta/hyper/omni or whatever-you-want-to-call-it -verse as it’s a fully rendered interactive 3D object that dances rhythmically to music (…actually it’s just a mpeg, and no it’s not for sale).”

The comment may have also been a jab at Facebook, which recently rebranded to “Meta” to capture its new focus on the metaverse. 

Bitcoiners Rejoice

Crypto Twitter was quick to leap on the news, immediately interpreting the new name as a commitment to Bitcoin. Michael Saylor – CEO of Microstrategy – responded with congratulations, saying “humanity is advancing block by block”. Dozens of other bullish Bitcoiners, including Dan Held, also flooded Dorsey’s update on the matter.

They were especially happy to see that Square’s Bitcoin arm – Square Crypto – had rebranded to “Spiral BTC”. Spiral reportedly represents Bitcoin’s growth outwards, like a spiral, until it “touches everything.”

Jack Dorsey is no crypto lover, but a Bitcoin maximalist altogether. His company has no interest in altcoins, Defi, or NFTs. However, it only seeks to help Bitcoin become the native currency of the internet. 

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Twitter – which he now plans to leave – is clearly taking a different approach. A hacker recently uncovered an unreleased Ethereum tipping feature in the app’s code.

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