{"id":14922,"date":"2021-12-02T21:54:10","date_gmt":"2021-12-02T21:54:10","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/payments-company-square-rebrands-to-block-inc-crypto-service-will-be-called-spiral\/"},"modified":"2021-12-02T21:54:10","modified_gmt":"2021-12-02T21:54:10","slug":"payments-company-square-rebrands-to-block-inc-crypto-service-will-be-called-spiral","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/payments-company-square-rebrands-to-block-inc-crypto-service-will-be-called-spiral\/","title":{"rendered":"Payments Company Square Rebrands to \u2018Block Inc.,\u2019 Crypto Service Will Be Called \u2018Spiral\u2019"},"content":{"rendered":"

Following Jack Dorsey\u2019s resignation announcement on Monday, two days later Dorsey\u2019s payments company, Square Inc., disclosed that it was rebranding and changing its name to Block Inc. The company said the name Block has \u201cmany associated meanings\u201d including the term \u201cblockchain.\u201d <\/strong><\/p>\n

Square Changes Name to \u2018Block\u2019 \u2014 Square Crypto Rebrands to \u2018Spiral\u2019<\/h2>\n

On Wednesday, Square Inc., the firm founded in 2009 by Jack Dorsey and Jim McKelvey has decided to change its name<\/a> following Facebook\u2019s rebrand to \u201cMeta.\u201d The news follows Jack Dorsey\u2019s resignation announcement<\/a> when he explained on Monday that he would step down as Twitter\u2019s CEO. \u201cWe built the Square brand for our seller business, which is where it belongs,\u201d Jack Dorsey, co-founder and CEO of Block said during the announcement on Wednesday. Dorsey added:<\/p>\n

Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.<\/p>\n

Since Dorsey resigned, many people think the move is beneficial to bitcoin and that Dorsey\u2019s past statements<\/a> reflect that he wants to work in the world of cryptocurrencies. The Square name change announcement also mentions blockchain technology and further reveals that Square\u2019s subsidiary Square Crypto will also change its name.<\/p>\n

\u201cThe name change to Block distinguishes the corporate entity from its businesses, or building blocks,\u201d the rebrand announcement further states. \u201cThere will be no organizational changes, and Square, Cash App, TIDAL, and TBD54566975 will continue to maintain their respective brands. A foundational workforce, which includes teams such as Counsel, People, and Finance, will continue to help guide the ecosystem at the corporate level.\u201d The payment company\u2019s blog post adds:<\/p>\n

As a result of the name change, Square Crypto, a separate initiative of the company dedicated to advancing Bitcoin, will change its name to Spiral.<\/p>\n

\u2018Building Blocks and Blockchain\u2019 \u2014 Payment Firm\u2019s Shares Slip Close to 2% After Rebrand Announcement<\/h2>\n

The name, the company says, has various associated meanings for the business. The name Block represents \u201cbuilding blocks, neighborhood blocks and their local businesses, communities coming together at block parties full of music, a blockchain, a section of code, and obstacles to overcome,\u201d the announcement concludes.<\/p>\n

The company\u2019s shares on Wednesday reached a high of $197.95 but have since faltered 1.74% lower to $194.50 per unit. 30-day metrics show the Block\u2019s shares have slipped 22.96% from the stock\u2019s 30-day high on November 3, at $252.48 per share. Year-to-date, the payment company\u2019s shares have been volatile, swinging from $226 per share to 2021\u2019s high of $281 per share on August 5.<\/p>\n

What do you think about Square changing its name to Block? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nNews, @TBD54566975, 2009, Bitcoin, Block shares, Blockchain, Cash App, company shares, Jack Dorsey, Jim McKelvey, Payments Company, Spiral, Square, Square Crypto, Square founder, Square shares, TIDAL, Twitter CEO<\/p>\n","protected":false},"excerpt":{"rendered":"

Following Jack Dorsey\u2019s resignation announcement on Monday, two days later Dorsey\u2019s payments company, Square Inc., disclosed that it was rebranding and changing its name to Block Inc. The company said the name Block has \u201cmany associated meanings\u201d including the term \u201cblockchain.\u201d Square Changes Name to \u2018Block\u2019 \u2014 Square Crypto Rebrands to \u2018Spiral\u2019 On Wednesday, Square…<\/p>\n","protected":false},"author":0,"featured_media":14923,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14922"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14922"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14923"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}