Block’s Square and CashApp are being examined by federal prosecutors, but this isn’t the first time for Jack Dorsey.
Shortly after CZ’s four-month sentencing, federal prosecutors are examining Twitter founder Jack Dorsey’s fintech firm Block’s Square and Cash App units.
According to internal documents, Block reportedly processed terrorist group-linked transactions while Square processed transactions involving nations subject to economic sanctions.
Dorsey’s Cash App was also investigated by the Consumer Financial Protection Bureau (CFPB) in August 2022. This was due to its failure to comply with investigative demands.
In a previously leaked conversation by the New York Times in September 2022, Dorsey expressed how he was tired of the government, bureaucracy, etc., which was why he turned to Bitcoin-maximalism.
Dorsey’s support for Bitcoin can also be seen early on as he helped launch a new fund to defend Bitcoin developers against litigation.
The Twitter founder also shared the same skepticism with Elon Musk, raising concerns over Web3.
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