Jack Dorsey’s cryptocurrency-friendly digital payments firm Square is expanding competition with global payments giants like PayPal by acquiring a major Australian lending company. Square announced Sunday that the firm has entered into a scheme implementation deed to acquire all of the issued shares in fintech company Afterpay in a $29-billion deal. The transaction is based on the closing price of the Square common share and is expected to be paid in all stock in the first quarter of 2022. The acquisition enables Square to further accelerate its strategic plans for payment ecosystems as the company is looking to integrate Afterpay …

Jack Dorsey’s Square has reported a 200% increase in Bitcoin (BTC) revenue for the second quarter year-on-year (YoY). The company announced the impressive earnings figures in its second-quarter shareholder letter on Sunday. In the report, Square revealed its total gross profit grew 91% YoY to $1.14 billion. Bitcoin services drove $2.72 billion in revenue for the app, with a gross profit of $55 million and respective increases of 210% and 223%, respectively, year-on-year. Cash App generated a gross profit of $546 million overall, up 94% YoY. “Bitcoin revenue and gross profit benefited from year-over-year increases in the price of bitcoin …

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, will be one of the key trends for the future of Twitter, CEO Jack Dorsey declared. The Twitter CEO said that Bitcoin would be a “big part” of the company’s future at the second-quarter earnings call, outlining the digital currency’s potential to further transform Twitter products and services. Referring to Bitcoin as a native currency of the internet, Dorsey described opportunities to integrate BTC into existing Twitter services including commerce, subscriptions and new features such as Twitter Tip Jar and Super Follows. The CEO explained to investors that a lot of …

Crypto Twitter was united in amusement today when the hashtag #eth began to automatically show the Ethiopian flag as the Ethereum 'logo'. Given Twitter CEO Jack Dorsey’s love of Bitcoin and the fact Bitcoin has its own Twitter icon many wondered if Dorsey was subtly trolling Ethereum (ETH). After all he’s a staunch Bitcoin (BTC) maximalist that has refused to consider buying into ETH and other altcoins on multiple occasions and has repeatedly stated that Bitcoin will become the internet’s native currency. The Twitter and Square founder certainly saw the funny side of it, Tweeting “#eth” which drew the attention …

Tesla CEO Elon Musk has hinted that the crypto industry is on its way toward greener future, but Tesla won’t be accepting Bitcoin payments just yet. Speaking at "The ₿ Word," a virtual Bitcoin (BTC) event, with Twitter CEO Jack Dorsey, Ark Invest’s Cathie Wood and moderator Steve Lee from Square Crypto, Musk said that Tesla would “most likely” consider resuming crypto payments for its vehicles — a policy the CEO said the company would be stopping in May — but said he needed to exercise diligence before making a decision. “There appears to be a positive trend in the …

Aave founder Stani Kulechov told his 90,000 Twitter followers on Saturday that his protocol should build “Twitter on Ethereum'' after Jack Dorsey said he was developing a new Bitcoin (BTC)-centric financial services platform with striking similarities to Aave. Since @jack is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum — stani.eth rAAVE =(⬤_⬤)= (@StaniKulechov) July 17, 2021 Dorsey tweeted Thursday that Square Inc., his mobile payment company, was creating a new business “focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services.” Square …

July 16, 1.45AM UTC: Updated with additional details Square CEO Jack Dorsey has revealed that Square is building a new division that will focus on building decentralized finance (DeFi) services that utilize the Bitcoin network. Dorsey made the announcement via Twitter earlier on Friday and revealed that Square’s new division will be building an “open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is Bitcoin.” Like our new #Bitcoin hardware wallet, we’re going to do this completely in the open. Open roadmap, open development, and open source. …

Digital payments firm Square is building a Bitcoin (BTC) hardware wallet, with CEO Jack Dorsey and hardware lead Jesse Dorogusker both confirming the plan on Twitter. The tech entrepreneur and Bitcoin proponent first teased the idea for a Square hardware wallet and custody service last month but revealed today that “we’re doing it.” We’re doing it #Bitcoin https://t.co/IwbKuBoXGv — jack (@jack) July 8, 2021 Dorogusker said on Twitter that Square wants to make Bitcoin custody more mainstream and outlined the pathway for the hardware wallet rollout: “We have a lot of questions and issues to reconcile and we’ll start with …

Twitter CEO Jack Dorsey has again rejected the idea of him buying into Ether (ETH) despite the social media platform’s activities with Ethereum-based nonfungible tokens (NFT). On Wednesday, the social media platform announced a giveaway through Rarible, a major NFT platform utilizing the Ethereum blockchain network for minting digital collectible tokens. But despite Twitter releasing 140 NFTs on Ethereum — the foundation for the second most-valued cryptocurrency after Bitcoin (BTC) — Dorsey apparently remains loyal exclusively to Bitcoin. Following the NFT news, Twitter user Packanimal suggested that it was “only a matter of time before” Dorsey invested in Ether, to …

Leading social media network Twitter launched a nonfungible token, or NFT, giveaway on Wednesday in a campaign that shined the spotlight on the evolution of the social media network. Twitter announced Wednesday that it will give away 140 free NFTs to 140 of its followers. The tweet, which had already received over 13,000 likes at the time of publication, contained several follow-up messages with themed NFT drops. 140 free NFTs for 140 of you, besties pic.twitter.com/0Pm0tNhIRg — Twitter (@Twitter) June 30, 2021 The first NFT drop was for “Reply Guy,” or “The man behind the mansplaining.” Reply Guy The man …

Jay-Z and Jack Dorsey have hinted that their music streaming service, Tidal, could be eying integrations supporting nonfungible tokens (NFT) and smart contracts. Speaking during a conference on Monday hosted on Twitter Spaces, the duo emphasized the importance of introducing features that empower the artists using the platform, citing smart contracts, NFTs and analytics tools as examples. Despite Tidal lagging behind top music streaming services — with Tidal’s 2019 $166 million in revenue paling in comparison to the $2.8 billion and $7.44 billion generated by Apple and Spotify, respectively, during that same year — Dorsey and Jay-Z believe they can …

Tesla CEO and Dogecoin (DOGE) enthusiast Elon Musk may be speaking at an event aimed at educating institutional investors on Bitcoin (BTC). In a Twitter discussion with Jack Dorsey, Musk agreed to speak at “The ₿ Word,” a July 21 virtual event hosted by the Crypto Council for Innovation and featuring major players in the crypto space. “As more companies and institutions get into the mix, we all want to help protect and spread what makes #bitcoin open development so perfect,” said Dorsey. “This day is focused on education and actions to do just that.” Musk responded to Dorsey with …