Block Hindenburg News Today

US investment group Hindenburg Research's latest report targeting payments firm Block has led to co-founder Jack Dorsey losing over $500 million. Dorsey's mobile payments firm has been accused of "widely overstating" its user base in the report. Block's stock tumbled up to 22 per cent in early trading on Wall Street before recovering slightly following the release of the report.

Hindenburg Research has returned with a bang after it "exposed" Adani Group in January, unveiling a scathing report regarding alleged fraud facilitation in Jack Dorseys Block.