Day: March 23, 2023

Written by FinCrime

Block shares plunge 16% after short seller Hindenburg says Jack Dorsey’s company facilitates fraud

Reported by Rohan Goswami and MacKenzie Sigalos Shares of Jack Dorsey’s Block plunged 16% after short seller Hindenburg Research announced Thursday that the payment company was its latest short position, alleging that Block allowed criminal activity to operate with lax controls and “highly” inflates Cash App’s transacting value user base, a key metric of performance. […]

Written by FinCrime

Russia Says Gold Hoard Grew as West Imposed Sanctions

Reported by Bloomberg News Russia’s gold holdings jumped by 1 million troy ounces over the last year as the central bank bought the metal amid sanctions on its reserves imposed by the US and its allies over the invasion of Ukraine. The Bank of Russia said it held 74.9 million ounces of gold at the […]