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Entertainment
Will Simpson

TIDAL will "part ways with a number of folks" and needs to operate “like a start-up again” as parent firm announces it will “scale back” investment

Tidal Spotify Jack Dorsey Block Bitcoin
Tidal.

Worrying times at TIDAL. Just two weeks after layoffs were reported at the streaming platform, it now transpires that its pool of funding is set to decline.

In a public letter to shareholders published late last week, the owner, tech firm Block, announced it would be "scaling back" investment in TIDAL. Block, which also owns payments brands Square and Cash App as well as banking app Spiral, said it plans to concentrate resources on its cryptocurrency ventures, which include a bitcoin wallet and a bitcoin mining initiative.

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