The San Francisco-based company said Wednesday it's making the change because the Square name has become synonymous with the company’s commerce and payments business. But it has grown since its start in 2009 and now owns the Tidal music streaming service, Cash App and TBD54566975, a financial services platform whose primary focus is Bitcoin.
The move comes just two days after Dorsey resigned as CEO of Twitter. He's still CEO of the newly named Block.
The company said the name change to Block “distinguishes the corporate entity from its businesses or building blocks.” It said there will be no organizational changes as a result of the name change.
“The name has many associated meanings for the company — building blocks, neighborhood blocks and their local businesses, communities coming together at block parties full of music, a blockchain, a section of code, and obstacles to overcome," Block said.
Bill Adams, Chief U.S. Economist at Fifth Third Bank, breaks down the Fed's latest decision, inflation risks, and what Kevin Warsh's debut means for markets.
Lou Whiteman, Contributing Aerospace Analyst at The Motley Fool, discusses SpaceX's volatile first week of trading and what investors should watch next.
Seth Goldstein, Senior Equity Analyst and Chair of the Electric Vehicle Committee at Morningstar, breaks down the robotaxi race and EV adoption trends.
Andrew Rush, CEO of Star Catcher Industries, joins us to discuss how wireless power transmission could reshape satellite technology and space communications.
