When Twitter CEO Jack Dorsey resigned this week to focus on his other company—financial payments firm Square—many wondered what it would mean for both companies’ crypto ambitions.
Dorsey today has subtweeted at least some of that answer. Square announced today it has renamed itself Block in an apparent reference to blockchain—the technology that undergirds Bitcoin.
“We built the Square brand for our Seller business, which is where it belongs,” said Dorsey in a press release today. “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.”
As part of the name change, Square Crypto–a wing of the company that propels Bitcoin use cases—will be renamed Spiral.
This news is breaking and the article is being updated.