Payment company Block announced a refocus on BTCMiner devices and self-hosted encryptionWallet development, partially driven by abandoning its 'Web5' Decentralization Internet project and reducing investments in Tidal music streaming. This move coincides with news of Trump's promise to create a more favorable environment for the Crypto Assets industry. Block's third-quarter revenue fell short of expectations, leading to a 10% drop in stock price.

Twitter co-founder Jack Dorsey's payment company, Block (SQ), plans to refocus on building devices for BTC Miners and self-hosted encryption Wallets, abandoning the creation of a new type of Decentralization Internet called 'Web5' and reducing investment in the Tidal music streaming app. The decision was announced in the same week that Trump won the US presidential election, after he promised to provide a more crypto-friendly environment for the US. Block's financial report shows that revenue in the third quarter was $5.98 billion, lower than the average Wall Street analyst's expectation of $6.24 billion.

Jack Dorsey's payment company Square (SQ) plans to invest in BTCMiner and self-hosted encryptionWallet devices, with some of the funding coming from the abandonment of creating a new type of Decentralization Internet for Web5, and reducing investment in the music streaming app Tidal. This decision was announced after Trump was elected President of the United States. After announcing its third-quarter financial performance, the company's stock price fell by 10% at one point.