Square

Donald Trump's ascension to the presidency creates regulatory uncertainty, but Block's CEO says the company hopes for more clarity for bitcoin and is developing technology to be flexible.

After his aggressive cost-cutting raised profits above analysts' expectations, Block's CEO aims to retool several features of Square and Cash App to enable them to operate like a "social bank."

The company declined to give specific details on how many jobs were affected. It has sought to rein in costs amid efforts to boost earnings.

PayPal, which employed around 29,900 workers at the end of 2022, announced a similar round of cuts last January.

These executives have taken charge at firms like PayPal, Discover and Early Warning Servcies during a volatile time for the entire industry.

Block is offering a new hardware Bitcoin wallet as crypto advocate Jack Dorsey focuses the payments company formerly known as Square more on security and self-governance for the digital-asset sector.

The M&A surge promises to improve the services fintechs offer to many banks. But it's also creating a new class of full-service competitors.

The $29 billion purchase of the Australian installment lender would bring larger retail relationships, as well as a fast-growing product that has appeal to both consumers and merchants.

The $29 billion deal would enable Square to better compete with PayPal and Apple, and provide an opportunity to cross-sell other services to the Australian lender's global audience.

Square is creating a new business line to help developers build financial services products focused on Bitcoin, according to tweets from CEO Jack Dorsey.