Online reports that Twitter co-founder Jack Dorsey's payments company Block(SQ) plans to refocus on building devices for Bitcoin (BTC) miners and their self-managed crypto wallets, funded in part by abandoning the creation of a new type of decentralized Internet called "Web5"(founded in June 2022) and reducing investment in music streaming application Tidal. The decision was announced the same week that Trump won the U.S. presidential election, promising to provide the United States with a more friendly cryptocurrency environment, an industry he promised to support during the campaign. In addition to the letter to shareholders, Block also announced third-quarter financial results on Thursday. According to FactSet, the company's revenue was $5.98 billion, below the average Wall Street analyst forecast of $6.24 billion. Since then, the company's share price has fallen by 10%.