Block, recently targeted by short sellers at Hindenburg Research, is still presumably exploring its legal options. It has, however, released a statement about common investor questions it would like to answer. Unfortunately, none of the questions it wants to answer are “How did you not notice you were issuing a cash card to an obviously fake Donald Trump?”
There’s a lot in the Hindenburg report, which essentially accuses Block of falling down on the job of fraud prevention. To demonstrate the point, Hindenburg changed its accounts’ names to “Donald Trump” and “Jack Dorsey,” and they were still able to send and receive money. They even got a debit card under the name Donald Trump!
To test this, we turned our accounts into “Donald Trump”...