Square Inc., the financial-services company co-founded and led by former Twitter Inc. chief Jack Dorsey, is changing its corporate name to Block Inc. The change will be effective later this month, the company said Wednesday. Its ticker symbol will remain SQ.GET FOX BUSINESS ON THE GO BY CLICKING HEREThe move comes just days after Mr. Dorsey resigned as Twitter’s chief executive. He was serving as CEO of both companies. Square said the new name encompasses its various businesses better than the current name, which is mostly associated with its merchant-payment services. However, the new name also happens to align with Mr. Dorsey’s interest in cryptocurrencies and the technology behind them, called blockchain.TWITTER CEO JACK DORSEY TO STEP DOWN Mr. Dorsey has emerged as one of the highest-profile backers of bitcoin, and to an extent has used Square as a vehicle for that. “I don’t think there’s anything more important in my lifetime to work on,” Mr. Dorsey said at a bitcoin conference earlier this year.The company holds about $220 million of bitcoin in its corporate treasury. Its CashApp business allows users to buy and sell bitcoin. In August, the company started a new unit aimed at building a blockchain-based exchange…
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Square changes name to Block, days after CEO Jack Dorsey leaves Twitter | Fox Business
