Square Shuts Down Gab.com Account As Advocates ‘Free Speech Money’ Bitcoin

Social media website Gab recently noted that it could still use Cash App, a mobile app by payments firm Square that allows users to easily buy and sell bitcoin. However, it turns out that claim might have come a bit too soon for the platform.

In a follow-up tweet, Gab stated that Square had deactivated the personal account of founder and CEO Andrew Torba.

On January 6, Gab said that it had begun using Square’s Cash App for its transactions as well as to receive public donations in bitcoin. The update came after Coinbase had reportedly closed the firm’s corporate account.

Founded in 2016, the free speech social network that also goes by the moniker “alt-right Twitter,” because it has grown into a favored platform for extremist right-wingers.

The view that Square had reactivated Gab’s account has reportedly been explained as incidental and may have been done unknowingly. The U.S.-based payments firm has maintained that it will “pro-actively” continue to deactivate new accounts connected to Gab.

Payment services ban Gab accounts

Gab has announced that it is the “most censored website in history.” It lists several services and platforms that have banned it or censored its services, including payment providers, hosting sites and mobile app stores.

Other than Square and major U.S. crypto exchange Coinbase, several other payment firms have also banned Gab’s accounts.

These include bitcoin payment firm BitPay, PayPal, and Stripe, an online payment processor. The Apple and Google app stores, as well as Microsoft’s Azure, have also reportedly banned the platform.

The move by these major payment processors has left Gab with very few options for processing payments for the platform’s GabPro premium service- crypto, money orders, and checks.

Currently, the best alternative is via bitcoin, which the firm continues to actively advocate for as the “free speech money.”

The social network site says that bitcoin payments are unrivaled as they cannot be “censored” by anyone.

The platform announced on January 9 that it had integrated BTCPay, an open-source cryptocurrency payment processor for its bitcoin transactions.

Gab advocates for ‘free speech money’ bitcoin

In a recent email sent to the more than 850,000 of its users, Gab lauds bitcoin, saying that it provides the best means for the public to support alternative media. And the free speech proponent believes that its user base could quickly grow into “the largest bitcoin community.”

“We have what no other vaporware crypto app has: a real community of users, customers, and shareholders, all working to make Gab succeed so that free speech can thrive online.”

The platform, however, has urged the public to focus on bitcoin’s utility value rather than on its price that has declined massively since hitting an all-time high in December 2017.

According to Gab, bitcoin’s price isn’t “important.” The main value comes from its use which provides “censorship-resistant free speech money.”

It adds:

“So long as you own bitcoin, you can support any person, business, or cause that you wish without permission from any bank, government, or corporation.”

Gab has urged its users to learn more about bitcoin and still believes that Cash App provides “one of the easiest ways to get bitcoin right on your mobile device.”

Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.

Be the first to comment

Leave a Reply

Your email address will not be published.