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Block Scales Back Investment in TIDAL and TBD to Focus on Bitcoin Mining and Crypto Wallet
Block Shifts Investment Priorities
Reducing TIDAL and TBD Investment
Jack Dorsey’s Block is reallocating its resources by scaling back investments in TIDAL, the music streaming platform formerly owned by Jay-Z, and shutting down TBD, a Bitcoin-focused venture. This strategic decision aims to refocus on Bitcoin mining and the development of the Bitkey crypto wallet.
Company’s Cost-Cutting Measures
Recent Layoffs and Internal Guidelines
In an effort to streamline operations, Block recently downsized its workforce, as reported by Fortune. Additionally, employees have been advised against mentioning Jay-Z, a member of the board, in their electronic communications. These actions are part of Block’s wider cost-cutting strategy.
Disclaimer:
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
