BM: has invested $150 million in its social app Voice

According to The Block, co-founder and chief technology officer Dan Larimer said in an interview that the company has invested $150 million in the development of blockchain social applications Voice. Kyle Samani, the founding partner of Multicoin, a blockchain investment firm, had questioned the speed of burning money at Block. Samani said that if raised $4 billion through ICO and now has $3.2 billion in assets on its balance sheet, how can a 200-employee company spend $800 million in cash over two years? ? And co-founder Jonathan Marcus said that of the $800 million that spent, at least $530 million was spent on equity repurchases because had two share buybacks in the past two years. It cost $300 million at a time and recently repurchased a $230 million stake. According to Babbitt’s morning news, people familiar with the matter said that is undergoing another share repurchase to attract more strategic investors.