171–180 of 324 posts
FYI if anyone is interested I can prove it -- Cash App is engaged in a massive stock trading fraud. I noticed one day that my books were off (down) by 1 penny. When I dug into it, I figured out that Cash App is providing their customers with conflicting reports for their stock sales. In the app, the sales report rounds pennies up, in the actual sale, whose records are only available through more complex data export p…
Isn't this the plot of Swordfish?
Which is, of course, “swordfish.”
I didn't know Square had changed their name to Block. Looks like it happened in December 2021: https://investors.block.xyz/news/news-details/2021/Square-In... That said this really seems overblown. The report seems to mostly just talk about Cash App. Square Payments, Weebly and TIDAL are not even mentioned. Afterpay is mentioned but that was a 2022 acquisition so the problems likely predate Block's involvement. It fe…
Flouting FinCEN and other US agency regulations would be a valuable problem
Many of FinCEN’s regulations are stupid and investors bidding up shares on user metrics is also dumb, but if any investor purchased based on poor metrics then that will be an expensive problem
the regulatory slaps will be expensive either way
The interchange issue is hard to tell about its value, but looking at Paypal’s issue with the SEC can provide clues
Is Hindenburg double dipping on whistleblower reports to the SEC?
"CEO Jack Dorsey has publicly touted how Cash App is mentioned in hundreds of hip hop songs as evidence of its mainstream appeal. A review of those songs show that the artists are not generally rapping about Cash App’s smooth user interface—many describe using it to scam, traffic drugs or even pay for murder." Hindenburg made a music video compiling the references that is...uh...worth watching: https://www.youtube.co…
Correct. A scam here in Baltimore that keeps occurring is that the squeege kids will run up on someone unsuspecting and start cleaning their windshield. They will pressure the driver for a tip, and the driver will say they don’t have cash of course. They will say that’s cool, you can send me a tip. They ask the driver for their phone so they can look up their cashapp for them, and bam the driver got scammed. What’s h…
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That is entirely on you if you give away your phone to those kids. I would think they would just run away with it
I was born outside the US and we had local gangsters that would walk up to you in the middle of the street and try to “sell” you a brick. Like a brick that you build a house or wall with. They would show it to you, and tell you that it was a great brick and that you should buy it. If you told them you didn’t want the brick, they would assure you that yes you most certainly do want the brick. You then bought the brick…
not in the US - millions of people keep loaded guns in their vehicles
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The “innovations” of many (but not all) post-2008 unicorns are more about creating a legal grey area to bypass regulation than they are actual technological advances. Uber and Airbnb are prime examples. If Uber was forced to used licensed cab drivers or Airbnb forced to use licensed hotels, you would see the breadth of what these companies actually bring to the table, which isn’t nearly as much as their valuations wo…
Yes, if Uber was forced to use the government cab cartel, then it wouldn't be better than the taxis. The entire point is they made taxis that actually work by getting around the taxi cartel.
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On the one hand it's obvious that the Hindenburg people are right on this when they say that Block's app is used for criminal activities and money laundering. On the other hand that's what we get for trying to push cash itself more and more outside the boundaries of modern society. That video in a way made me root for the bad guys, a no-cash society where petty crime doesn't happen because the powers that be control…
What racial aspect? Please explain
FYI if anyone is interested I can prove it -- Cash App is engaged in a massive stock trading fraud. I noticed one day that my books were off (down) by 1 penny. When I dug into it, I figured out that Cash App is providing their customers with conflicting reports for their stock sales. In the app, the sales report rounds pennies up, in the actual sale, whose records are only available through more complex data export p…
This is at the core of Superman III. Richard Priors' character notices his paycheck gets rounded down, he writes an app to harvest up the rounded down tenths of pennies...
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Looks like it's an easy way to make money, SEC won't do nothing of course.
What role would the SEC have? First amendment demands the freedom to publish whatever truthful information you want and there’s no restriction on profiting from “outside” information. If allegations in the report are false, the traders face legal liability. If they’re true but the market disagrees with the impact, they’ll lose money on the trades. What specific thing should the SEC be policing here?