Summary:
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Web5 Cancellation
Block, led by Jack Dorsey, has scrapped its Web5 decentralized internet project. -
Shift to Bitcoin Focus
The company will invest more in Bitcoin mining and Bitkey wallets, responding to strong market demand. -
Tidal Cuts
Block will reduce its investment in Tidal music streaming to prioritize these areas. -
Strategic Repositioning
The strategic move reflects growing demand for Bitcoin mining hardware and self-custody solutions.
Read more at: CoinDesk