Jack Dorsey's Block makes major move to become a U.S. crypto bank

Sep 9, 2026 2:40 PMPublished Sep 9, 2026 2:40 PM

Jack Dorsey is launching a "bank" that refuses to do what banks actually do. Builders Bank will be an uninsured institution that rejects deposits and forbids loans, focusing strictly on Bitcoin custody. Despite Dorsey’s talk of "economic empowerment," investors immediately dumped Block's stock, signaling massive skepticism. Is a bank that doesn't insure your money or offer credit actually a bank, or just a centralized trap for your Bitcoin? What’s your take?
This summary was generated by AI

Jack Dorsey’s Block applies to the OCC to launch a national trust bank.

www.thestreet.comJack Dorsey's Block makes major move to become a U.S. crypto bankJack Dorsey’s Block applies to the OCC to launch a national trust bank.

OCC •Crypto Banks •National Trust Bank •Bitcoin •Jack Dorsey Block

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