One of these days, Gab is going to have to seriously consider testing whether these banks actually have the legal right to politically discriminate against them. Because running from one converged bank to the next doesn’t appear to be working very well.
Last month, Gab CEO Andrew Torba revealed that the New Tech site had been banned from three different banks in the space of three weeks. On Friday in a statement posted online, Torba confirmed that yet another bank had banned the site from its services. “It’s getting to the point where we are seriously considering buying our own bank,” Torba said. “Funny how this started happening right when Biden got into office,” he added. Two of the four banks were identified as NBT Bank, which mostly operates in the northeast of the country, and City National Bank of Florida.
Another option is foreign banks and foreign payment processing systems, both of which are usually more than happy to establish footholds in the US market. For example, the new Chinese peer-to-peer direct pay system not only avoids the converged banks, but the US dollar as well. If they’re going to kick you out of the system, then you shouldn’t hesitate to utilize the existing alternatives to that system, even those that threaten the system.
Anyhow, all this is going to accomplish is to speed up the development timeline of the peer-to-peer payment alternatives. If it’s happening to Gab today, it will happen to everyone who votes, speaks, or thinks against the imperial establishment tomorrow.