DeFi News Daily Official TheBitTimes.com

Block Inc. (NYSE: SQ), Square’s and Cash App’s parent company, and valued at $44 billion has raised its earnings forecast for the year and unveiled significant plans to expand its Bitcoin (BTC) holdings. The announcement led to a 7.9% surge in Block’s shares in post-market trading. In a letter to share holders, CEO Jack Dorsey stressed the importance of an “open protocol for money“ aligning with broader movements towards cryptocurrency acceptance. “We believe the world needs an open protocol for money, one that’s not owned or controlled by any single entity,” Dorsey said in the note. Picks for you Shark Tank's Mark Cuban slams SEC: 'Trying to destroy crypto' 1 hour ago More Bitcoin bleeding ahead; BTC faces significant rejection as bears take control 1 hour ago Buy signal for two oversold cryptocurrencies this May 2 hours ago Britain’s gold sell-off in 1999 has cost the U.K. £21 billion 3 hours ago Thi...

The former chief product officer will receive a healthy severance package, as he departs from his previous role at the exchange. Surojit Chatterjee, the former chief product officer at Coinbase, will officially leave the company on February 3rd after reportedly making an estimated $105 million in stock sales.  According to disclosures filed with the Securities and Exchange Commission, Chatterjee will also retain 249,315 shares of Coinbase stock. At the time of publication, Coinbase stock was valued at $54.28 per share, by Google Finance.  Chatterjee joined Coinbase from Google in February 2020 with a salary of just under $1 million per year. In recognition of Chatterjee's contributions to the company, Coinbase and Chatterjee have entered into a separation agreement that includes severance benefits and an advisory deal in which he will provide advisory services from Feb 4, through to Dec 31, 2023. In the disclosures filed with the Securities and Exchange Commission by Coinbase, C...