Gab CEO Banned by Both Traditional & Crypto Payment Processors; Bitcoin is a ‘Free Speech Money’
Thanks to Bitcoin, Gab has achieved its first $100,000 revenue in a month, said Andrew Torba, the social networking service CEO.
For the first time in its four year history, Gab saw a six-figure revenue that too without a “single credit or debit card transaction.”
In his post on Tuesday, Torba shared how Gab has been banned from not only dozens of payment processors like PayPal, Square, and Stripe but also many crypto payment platforms like Coinbase and Bitpay.
Besides the business, Torba said he and his family have also been “blacklisted by VISA for merchant processing.”
Calling Bitcoin “free speech money,” he said the digital asset has been crucial for their future, helping not only businesses like Gab and individuals like him but all those firms and people who are being cut off from the banks traditional payment processing methods.
Bitcoin solves this problem, and as such, they are spending “a lot of time at Gab working to educate our community about the importance of understanding and using bitcoin,” said Torba.
The platform accepts eCheck and checks by mail besides bitcoin as payment options.
“We are excited to continue building the home of free speech online funded by the biggest community of free speech warriors on the planet and with bitcoin, free speech money.”