Introduction

Hindenburg Research has alleged that former Twitter Chief Executive Officer Jack Dorsey's Fintech firm Bloc, built up on hype and enabled frictionless fraud. Shares of Bloc fell sharply overnight, closing nearly 15% lower. The Reserve Bank of India is working on setting a trigger system to ensure that the gap between banks declaring a loan account as fraud is reduced from years to just 6 to 8 months. Layers in the tech space are becoming commonplace with firms globally reviewing expansion plans that had taken root during the COVID-19 pandemic.