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PayPal’s former leader, also known as the “PayPal Mafia,” has accused the payments giant of its recent debanking policies, with one co-founder calling the freezing of funds “totalitarian,” while another compared it to an episode of Black Mirror.
Despite the familiarity of cryptocurrencies in recent years, the payments tech giant has headline It reportedly involves a fairly abrupt process of freezing funds, fines, and frosty negotiations to unlock users’ accounts for a variety of reasons.
Peter Thiel, who co-founded PayPal in 1998 and served as CEO until 2002 was suggested It told The Free Press (TFP) on December 14 that the company’s vision has shifted significantly from its original goal of giving global citizens more control over their money.
“If your money online forms are frozen, it’s like destroying people economically and limiting their ability to exercise a political say,” Thiel said, adding: rice field.
“There is something about destroying people economically that seems far more totalitarian.”
Thiel is colloquially called the “Don” of the famous “PayPal Mafia”. This group is a group of founders and former employees such as Elon Musk, who have since founded or worked for other major technology companies.
Fellow PayPal Mafia member and the company’s first COO, David Sacks, also talked out Against So is PayPal’s de-platforming practice in recent years.
In an interview with TFP, Sachs claimed that PayPal, led by current CEO Dan Shulman, is trying to capitalize on the wake-up culture movement by banning people with dissent.
“Chief executive officer [Schulman] Mr Sachs added:
“It’s a symbiotic relationship. He runs their agenda, and in return they give him awards that further advance the corporate totem pole of awakened capitalism.”
Accounts associated with the censorship-free Freedom Phone startup, the news website Consortium News, and the Free Speech Union were closed, to name a few of PayPal’s notable de-platforming. When Lockdown skeptic blog The Daily Sceptic.
In response to an article by The Free Press, Elon Musk, currently the CEO of Twitter and the CEO of SpaceX and Tesla, said the platform has become an episode of Black Mirror. Controlled by technology.
PayPal is now an episode of Black Mirror
Elon Musk (@elonmusk) December 13, 2022
Due to the decentralization and censorship resistance of the network, along with the threat of de-platforming in some areas, cryptocurrency proponents have of course pushed the Bitcoin will fix this narrative.
Banks can lock your account…
PayPal may impose fines for incorrect information
Governments can print a path to hyperinflation, overspend, and steal taxes
But no matter what, Bitcoin is waiting for you. pic.twitter.com/0U2loosvYw
Chris Dunn (@ChrisDunnTV) December 7, 2022
Related: What is a crypto payment gateway and how does it work?
In October, the company controversially announced a $2,500 fine for users who “promote misinformation” or use materials that pose a risk to “the safety and well-being of users.” .
The move was met with heavy backlash from the community and heavyweights, including the PayPal mafia. member Former PayPal President David Marcus and former CEO Musk. On October 11th, PayPal promptly withdrew that policy, blaming it on an internal error.
However, some skeptics believe This policy is quietly incorporated into the company’s User Agreement and Acceptable Use Policy.
