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☆ A prominent short-seller just released a bombshell report on payments darling Block. Here are the 4 biggest claims.
▼ + stars: | 2023-03-23 | by ( Carla Mozée | ) www.businessinsider.com time to read: +5 min

Hindenburg Research on Thursday released a scathing report about Block, saying it inflated metrics. The short-seller financial research firm led by Nathan Anderson said it has taken a short position on Block shares after its two-year probe. The firm also said it ordered and "promptly received Our Donald J. Trump Visa Cash App card in the mail." It saw multiple Cash App accounts bearing the name "Jack Dorsey" as well as dozens of "Elon Musk"' and "Donald Trump'" fake accounts as well. "The only payment provider mentioned in the indictment was Cash App, which was used to facilitate the fraudulent COVID relief payments," wrote Hindenburg.

☆ Short-seller Hindenburg targets Jack Dorsey’s Block
▼ + stars: | 2023-03-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of Block, the company behind Cash App, plunged by 20% Thursday morning after the release of a searing report from short-seller Hindenburg Research that accused Jack Dorsey’s company of allowing fraudulent accounts that obscure criminals involved in illegal or illicit activities, including the sex trafficking of minors. Hindenburg’s attack on Block comes two months after the short seller’s allegations against Adani Group erased billions of dollars from the Indian conglomerate’s balance sheets. In 2021, members of the “Cash App” gang were charged with distributing fentanyl, the report said. Hindenburg, meanwhile, has made a name for itself by publishing explosive reports about businesses and short-selling the stocks of the companies associated with them. Hindenburg has targeted nearly 30 companies since 2020, and on average their targets lost about 15% on the day the reports were released, according to Bloomberg calculations.

☆ Block slides 20% after short-seller Hindenburg says 2-year investigation indicates the company has 'wildly overstated' genuine user counts
▼ + stars: | 2023-03-23 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Block shares drop 20% on Thursday after Hindenburg Research said it's shorting the payments company. Hindenburg alleged Block "obfuscates" how many individuals are on its Cash App platform. Block shares dropped 19.5% to $58.51 as trading in Thursday's regular session got underway. Hindenburg said its two-year investigation into Block found the company "obfuscates" how many individuals are on its Cash App platform by reporting misleading "transacting active" metrics that are filled with fake and duplicate accounts. "Block can and should clarify to investors an estimate on how many unique people actually use Cash App," said Hindenburg, whose report in January targeted Indian conglomerate Adani Group.

☆ I'm a paypig who spent $1,800 of my student loan on my 'findom' fetish, but I don't regret it
▼ + stars: | 2023-03-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +5 min

A college student spent about $1,800 from his student loan to fund his "paypig" fetish. I had just received my student-maintenance loan — a loan to help with my living expenses — and that gave me a bit of spare cash. After a few weeks, I booked a Skype session with a dom who asked me how much I had, and that's how I got into spending my student loan. It's quite addictive, and I've definitely spent money when I shouldn't have. In total I've spent almost £1,500, or about $1,800, from my student loan to fund my fetish, and I don't regret it.

☆ Block sharpens focus on Cash App in 2023
▼ + stars: | 2023-02-27 | by ( ) www.businessinsider.com time to read: +2 min

The 15% year-over-year (YoY) increase is down from 45% the same period a year ago . How we got here: Three factors contributed to Block’s Q4 performance. With these expansions, gross profit outside of the US accounted for 17% of Square’s total profit in Q4, compared with just 9% in Q4 2021. Unlike other big-name fintechs, Block didn’t announce layoffs in recent months, which may point to the strength of its business model and its performance outlook. It anticipates this segment’s expenses to grow between 5% and 10% this year, driven by Cash App.

☆ I'm an OnlyFans creator who sells personal items like my underwear. Here's how I promote myself on Reddit and Twitter to find buyers.
▼ + stars: | 2023-02-27 | by ( Lola Christina Alao | ) www.businessinsider.com time to read: +6 min

She began selling personal items online on the side after people asked for them. At the strip club I was introduced to the concept of selling weird items online, and I found my first few clients. Blue has sold a variety of personal items. I've had a lot of luck with auctions on sites where selling personal items is allowed, and I do one almost daily. About 20% of my OnlyFans income comes from selling items, and the rest comes from images and videos.

☆ I bought a house at age 23. Here's what the process was like and my tips for other young first-time homebuyers.
▼ + stars: | 2023-02-24 | by ( Eboni Boykin-Patterson | ) www.businessinsider.com time to read: +7 min

Stephon Solomon bought his first home at 23 and has advice for first-time homebuyers. He put only $12,500 down to buy the house and did his own research to find the right mortgage. I couldn't really talk to them about the process; they didn't really know anything about it. After I had a good idea of what was out there and where and how to look, I looked into different mortgage loan programs that were offered and read the fine print. But because I had familiarized myself with the different loans and their requirements, I knew exactly what to tell them or knew what they were saying wasn't really true.

☆ Block misses on earnings but beats on revenue, gross profit
▼ + stars: | 2023-02-23 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +1 min

Block stock rose about 3% in extended trading after the payments company reported fourth-quarter earnings that missed Wall Street expectations, but posted strong growth in gross profit. Here's how Block did versus Refinitiv consensus expectations:EPS: $0.22, adjusted, versus expectations of $0.30$0.22, adjusted, versus expectations of $0.30 Revenue: $4.65 billion versus expectations of $4.61 billionBlock posted $1.66 billion in gross profit, up 40% from a year ago. Analysts tend to focus on gross profit as a more accurate measurement of the company's core transactional businesses. Its Cash App business reported $848 million in gross profit, a 64% year-over-year rise, according to Block. Its point-of-sale business, Square, saw gross profit grow 22% on an annual basis to $801 million.

☆ Get Paid Online? Here’s How to Tell if You Owe the IRS Taxes
▼ + stars: | 2023-02-14 | by ( Ashlea Ebeling | ) www.wsj.com time to read: 1 min

Whether you sell vinyl records on eBay, teach tennis lessons and get paid via Venmo, or rent your home on Airbnb, your side hustle can end up as a tax hassle. The Internal Revenue Service delayed for a year a new law requiring payment processors like Venmo and Cash App and platforms such as eBay, Etsy and Airbnb to send tax forms to users who make more than $600 in revenue.

☆ Sell on eBay or Get Paid on Venmo? You Probably Owe the IRS Taxes
▼ + stars: | 2023-02-13 | by ( Ashlea Ebeling | ) www.wsj.com time to read: 1 min

(Some partners also offer free state filing.) This is an opportunity many people overlook: About 70% of Americans qualified for IRS Free File in 2022, according to the Taxpayer Advocate,, but only 2% actually used it. Even if you meet the income requirements, Free File might not have the forms you need. If you don't meet the income requirement for Free File, you can still use the site's fillable forms. Bottom lineThere are lots of ways to file your taxes for free, whether that's with the IRS or a commercial tax software company.

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If you only need to file a simple tax return or meet certain income requirements, you can file your taxes for free, using programs sponsored by the IRS or online tax software. Use IRS Free FileIRS Free File is a free online service for filing taxes designed by the IRS. Roughly 70% of Americans were eligible to use IRS Free File last year, but only 2% actually used it. It also won't work for you if you have business or self-employment income, income from rental property or stock sales, or unemployment income. Or, if you prefer a free tax software with no paid upgrades at all, consider Cash App Taxes (formerly known as Credit Karma Tax).

☆ How Zelle is different from Venmo, PayPal and CashApp
▼ + stars: | 2023-02-04 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +1 min

More than half of smartphone users in the U.S. are sending money via some sort of peer-to-peer payment service to send money to friends, family and businesses. Stocks of payment services like PayPal, which owns Venmo, and Block, which owns Cash App, boomed in 2020 as more people began sending money digitally. One limitation of PayPal, Venmo and Cash App is that users must all be using the same service. Zelle, on the other hand, appeals to users because anyone with a bank account at one of the seven participating firms can make payments. Watch the video above to learn more about why the banks created Zelle and where the service may be headed.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the big banks created ZelleCompetition among peer-to-peer payment apps like Venmo, PayPal, Cash App and Zelle have been heating up for the past 10 years. The big banks tried to compete in the space when PayPal first came on the scene 25 years ago, but their business models failed. Now, Zelle, a seven-bank platform, is outpacing its rivals in average transaction value. But a rise in reported fraud activity recently got the attention of Congress, with allegations that the banks aren't supporting those affected customers.

☆ A 54-year-old high school teacher who owns 64 single-family homes in Chicago explains how he's used real estate investing to achieve financial independence
▼ + stars: | 2023-02-04 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Dominic Kosteris worked two jobs and lived with his parents before buying his first home in 1996. "I was delivering newspapers when I was in eighth grade," the 54-year-old high school history teacher told Insider. Kosteris' parents emigrated from England to the States when he was two years old. Today, Kosteris technically doesn't have to work, thanks to the real-estate portfolio he's built over the past 27 years. He owns 64 single-family homes, which Insider verified, including the one he lives in.

☆ Bank of America reveals its top stocks ahead of earnings, including a favorite solar name
▼ + stars: | 2023-01-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

There still are plenty of stock-buying opportunities as earnings reports continue to roll out, according to Bank of America analysts. CNBC Pro combed through Bank of America's recent research to find the most attractive stocks that are well-positoned ahead of their reports. Fox Buy shares of the "best positioned" company in media, analyst Jessica Reif Ehrlich said recently about Fox . "We find Grab well positioned to balance revenue growth with profitability in both its core businesses— delivery & mobility," Salgaonkar said. Thesis: 1) We find Grab well positioned to balance revenue growth with profitability in both its core businesses - delivery & mobility.

☆ Here are Friday's biggest analyst calls: Netflix, Tesla, Apple, Coinbase, Tesla, Ralph Lauren & more
▼ + stars: | 2023-01-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Friday's biggest calls on Wall Street: Mizuho reiterates Amazon as buy Mizuho said it's standing by its buy rating on the e-commerce giant. Barclays upgrades Ralph Lauren to overweight from equal weight Barclays said Ralph Lauren is a "best-in-class" apparel brand. JPMorgan upgrades Regeneron to overweight from equal weight JPMorgan said it sees several positive catalysts ahead for the biotech company in 2023. JPMorgan reiterates Netflix as overweight JPMorgan said it sees growth potential after the company's strong earnings report on Thursday after the bell. JPMorgan reiterates Coinbase as neutral JPMorgan said Coinbase is a beneficiary of other company's challenges from the FTX fallout.

☆ I used mind games to make a 'pay pig' send me cash, but I ended up feeling sorry for him and gave it back.
▼ + stars: | 2023-01-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

I moonlighted as a financial dominatrix on Twitter to see if I could make money from a "pay pig." A pay pig is told by a findomme to send them cash in return for nothing other than the humiliation of doing so. Sensing the opportunity, I replied: "Is this a pathetic attempt to be my pay pig?" He said what he liked most about being a pay pig was how easily a findomme could take his money. But I'll admit, I did feel a little sorry for my pay pig.

Most people are aware of gift cards for restaurants or retail stores, but the purchasing power of gift cards is nearly limitless. Throughout the year, we gifted the kids gift cards for Valentine's Day and Easter while also purchasing gift cards whenever our family budget allowed. Cash App Investing does not trade bitcoin and Cash App is not a member of FINRA or SIPC. Show more Minimum Deposit Amount $0 Editor's Rating 4 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4 out of 5 Stars Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Whether you're using gift cards to save up for your family's dream vacation or for a major purchase, buying gift cards is an ideal alternative to conventional saving.

Featured Partner Offer Cash App - Send Gift Cards to Friends and Family Instantly A tooltip *Cash App is a financial platform, not a bank. Gift cards are not separate physical cards. However, if a customer does not have a Cash App Card, they can instead convert their gift card to cash in the app. With gift cards, it's easy to make it look like everyone is getting the same gift, but since many gift cards don't state the denomination on the card, you can give anywhere from $5 to $500 and the recipients won't know how much they got in the moment. By buying gift cards from small businesses, you're essentially front-loading sales and guaranteeing income that they might not otherwise receive.

I used to get annoyed when people bought gift cards for gift swaps. I put serious time into finding the right gift, so when people wrapped up gift cards, I felt a flush of annoyance. Cash App - Send Gift Cards to Friends and Family Instantly A tooltip *Cash App is a financial platform, not a bank. I realized it wasn't about the gift cards at allI challenged myself to think about why gift cards bothered me. I can get my mom a gift card for tickets to see a show and buy my daughter a gift card for a local pottery painting studio.

I can often get Disney gift cards at a discountBuying gift cards at a discount means paying less for the gift card than the face value of the card. If you pay any amount less than $50 for a $50 gift card, then that's a discounted gift card. If I buy a $100 Disney gift card at Target each month, I'll have $1,200 after a year. However, if a customer does not have a Cash App Card, they can instead convert their gift card to cash in the app. While Costco doesn't sell Disney gift cards, they sometimes have Landry's gift cards, which can be used at the Rainforest Café and T-Rex Café at Disney World.

Then, I started receiving gift cards from people occasionally and found that I love this idea as a gift. 5 practical reasons I like to give gift cardsSome people may think gift cards are losing their charm, but I disagree. I can get gift cards at a discount that stretches my budget furtherI love to get gift cards from Amazon, Walmart, and Target at a discount thanks to holiday sales. Walmart also has discounted gift cards for popular retailers and restaurants, like buying a $25 gift card for $20. I don't buy gift cards for everyoneThe truth is, most people want cash or gift cards for Christmas, but may not admit it out loud.

☆ I drove Uber during the holidays to get my son the gift he wanted. I didn't think I'd get enough tips, but then a Christmas miracle happened.
▼ + stars: | 2022-12-23 | by ( Jenny Powers | ) www.businessinsider.com time to read: +6 min

Uber driver Bunny Rivera started working for the rideshare company after she became a mom. I began delivering food for Uber Eats during the fall of 2019. Uber Eats provided me with the flexibility I needed to do just that. When they saw my sign, the guys started asking me about my plans for Christmas. Unfortunately, the Uber app has a $100 limit on tips.

I figure out which restaurant or retailer they like, purchase a gift card, and gift the card to them. Featured Partner Offer Cash App - Send Gift Cards to Friends and Family Instantly A tooltip *Cash App is a financial platform, not a bank. Gift cards can score deals for the giver, tooSo many retailers and restaurants offer bonuses when you purchase a gift card. I buy them a gift card, and in return, I get another gift card for myself and my wife. My home is still divided on whether or not gift cards are the best gift to give.

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