Twitter Jack Dorsey Hindenburg :
India’s state politics is now in flux due to various incidents. Punishment of Rahul Gandhi, disqualification of MP, 2024 Lok Sabha Election Dhamama, all are sticking. Gautam Adani and his Adani Group have occupied a place in it for several days. Shares of Adani practically collapsed after the US-based Hindenburg Research reported a tumultuous study. Then Hindenburg struck again. This time, it is not an Indian company, but Jack Dorsey’s payment firm ‘Block’. Who is this Jack Dorsey? In short, he is the founder of world famous social media Twitter. And Hindenburg accused his organization of rigging and fraud.
Before coming to this incident, let’s look back at the previous scene. A new year has just begun. By the end of January, the Hindenburg Research Group practically blew up. The target is Gautam Adani, one of the richest industrialists in India and the world. They have researched about him and Adani Group for two years. Only then did the detailed report come forward. According to Hindenburg, Adani Group has been committing fraud and manipulation for the past 10 years. In particular, they have increased their profits by artificially increasing their share prices in the market. After such information came to the fore, noise fell in the market. Adani’s shares started falling. Adani lost thousands of crores of rupees overnight.
Read more: In the fall of Adani, love Hindenburg! Why Western research is still recognized in the country?
However, this issue is not limited only to the stock market and business. The country’s politics is heavily involved there. The RSS itself stood by Gautam Adani. Also, Gautam Adani and Adani Group say it is an attack on India. This attack was done on purpose. But these words of ‘patriotism’ did not help much.
NEW FROM US:
Block—How Inflated User Metrics and “Frictionless” Fraud Facilitation Enabled Insiders To Cash Out Over $1 Billionhttps://t.co/pScGE5QMnX $SQ
— Hindenburg Research (@HindenburgRes) March 23, 2023
However, Hindenburg did not stop after Gautam Adani. They have already entered the new event. After detailed research, they exploded the bomb once again. This time their target is Jack Dorsey. He is known to the whole world as the founder of Twitter. The triumph of this social media started from his hands. But it’s not Twitter, Dorsey’s other payment firm ‘Block’ is the target. Hindenburg claims, this agency is similarly rigged. Also committed fraud.
Also read: Hindenburg alleges major fraud against Adani group, how is this research done?
Hindenburg also claims that the former employees of the organization said that at least 40 to 75 percent of the accounts of the block are fake! That is, the total number of users is shown in increments. It has also been shown to reduce costs for customers. In addition to fraud, fake accounts, Dorsey’s company also increased its share price abnormally. In the name of helping during Corona, the bloc has finally cheated, Hindenburg claims.
Almost the same claim was made in the case of Adani Group. Then what exactly happened, it does not need to be reminded again. For now, Twitter founder Jack Dorsey’s ‘Block’ company is also going to face similar losses. The company’s share price has already fallen by 20 percent. With the publication of the Hindenburg Report, more than 4500 crores of money disappeared overnight. Now how much lower the graph of this share is, to see what information emerges.