The Payments Giant Square Is Changing Its Name to Block

Published by BingX Official at 2021-12-02

Today’s Cryptocurrency Headline

Jack Dorsey’s payments company Square has changed its corporate entity to “Block,” according to an official announcement. The change will take effect on December 10. The name change stems from the company’s desire to embrace decentralization and blockchain technology more deeply. In addition to changing Square’s name to “Block,” “Square Crypto” will also change its name to “Spiral.” But Block will continue to trade on the New York Stock Exchange under the symbol SQ, and current shareholders will not need to take any action. The Company’s Class A common stock will continue to be listed on the New York Stock Exchange. The company will remain the same as Square, Cash App, TIDAL and TBD54566975 remain branded. On Monday, Square CEO Jack Dorsey resigned as CEO of Twitter.

BingX’s Bitcoin Chart

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The crypto market has been further shaken by news of the new coronavirus in the US. BTC price fluctuated between $54,000 and $58,000 for a week. The market is likely to choose its direction next. Alarmingly, spot trading volumes on centralized exchanges have been falling in the past month, which could be a sign of rising bearish sentiment.

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