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*AFTER ADANI, HINDENBURG REPORT ON BLOCK INC*

Hindenburg Research on Block (Formerly Square), $SQ:

1. Block has "systematically taken advantage of demographics it claims to be helping"

2. Interviews with former employees show 40%-75% of accounts are fake

3. Accuses Cash App as "by far" the most used platform for illegal payments

4. Cash App compliance issued them a Cash Card under "Donald Trump"

5. Block "facilitated pandemic relief fraud"

6. Cash App avoided "a key banking regulation"

7. Acquisition of Afterpay meant to "avoid responsible lending rules

8. Says Jack Dorsey and executives have sold over $1 billion in stock

$SQ is now down nearly 20% on the release of this report.