Block Cuts Over 40% Of Staff, Stock Jumps 27% 😐

Jack Dorsey, co-founder of Twitter and CEO of Block, just announced one of the largest layoffs in the company’s history. Block, the fintech company behind Square payments, Cash App and other financial services products, is cutting more than 4,000 employees, shrinking from over 10,000 people to under 6,000.

🤖 Dorsey says the business is strong. Gross profit is growing and profitability is improving. The reason for the cuts is AI. He wrote that new intelligence tools and smaller, flatter teams are changing how the company builds and operates, making many roles redundant.

In simple terms, AI allows Block to maintain or even grow the business with far fewer people. Lower costs, higher margins.

🔼 Markets responded immediately. Block stock jumped more than 27% after the announcement. AI removes jobs, investors reward the efficiency.

This is the early stage of something much bigger. Large companies are restructuring around AI and cutting thousands of white collar roles in a single decision. If this model spreads across finance, tech and services, the impact on office employment could be very severe 😱

Could this trend lead to mass technological unemployment, the growth of unions, bans on AI, and other forms of Luddism? Share your thoughts in the comments 👇💬

@Coin_Post

Trump launches Operation Epic Fury against Iran 💣

President Trump announced that the U.S. has begun what he called a “massive” campaign. The stated objective is to destroy Iran’s missile forces, missile industry, navy, nuclear program, and regional proxies. U.S. forces have already struck multiple Iranian naval bases in the Persian Gulf and Gulf of Oman.

🇮🇱 At the same time, initial Israeli strikes reportedly targeted senior Iranian leadership, including Supreme Leader Khamenei and President Pezeshkian.

The conflict is expanding fast. Iran has launched ballistic missiles toward Israel, Bahrain, the UAE, and Qatar.

🌍 It is turning into a regional war. The U.S. demands were never acceptable to Tehran, and the negotiations now look like a formality before escalation.

Expect oil prices to rise and equities and crypto to continue falling. So far BTC is down 3% to $64k 🔽

Iran is firing missiles and launching drone strikes across the region. U.S. bases have been hit. Missiles were sent toward Israel, Bahrain, the UAE, Iraq, Jordan, Kuwait and Qatar 💣

There is footage of a drone striking near the Burj Khalifa in Dubai. Another shows a drone hitting a residential high-rise in Bahrain. This is no longer confined to military targets, it is terrorism. The cost asymmetry is obvious. A relatively cheap drone can cause massive real estate damage and crush tourism-driven GDP in cities like Dubai.

🛩 Israel says it carried out the largest airstrike in its history. Around 200 fighter jets dropped hundreds of munitions on roughly 500 targets inside Iran. At the same time, Saudi Arabia says it is ready to join the U.S., and Qatar is aligning with Washington.

Now the real question is whether this is a short exchange or the start of something much longer?

🤔 Trump has communicated an intention to fully dismantle Iran’s leadership and military capability and is openly talking about regime change.

Iran confirmed its Defense Minister and a Revolutionary Guard commander got killed, brushing it off by saying losing a few commanders is “not such a big problem.” There is still no confirmed information on whether their leader Khamenei survived. Israeli assessments say the chances are slim, but nothing official yet.

What is confirmed is that Iran has closed the Strait of Hormuz. Tankers are piling up. Oil majors and traders have suspended shipments. Around 20% of global oil flows through that channel.

🤨 If Trump is serious about regime change and Iran keeps hitting neighboring states, while Saudi signals it could join and OPEC meets to potentially boost production and stabilize oil flows, that points to preparation for a longer conflict, not a brief exchange.

@Coin_Post