Former PayPal CFO got his account at Bank of America closed without any explanation and now the Crypto world votes for Bitcoin as an option. Let’s find out more about the latest Bitcoin news.
The US-based banking giant Bank of America closed the account of the now Former PayPal CFO (chief financial officer) prompting the crypto sphere to share some of the similar stories and a solution to the issue Bitcoin. Roelof Botha who is the partner at the major American Venture capital firm Sequoia Capital tweeted that he was a customer at the bank for two decades and the bank decided out of nowhere to close his account without providing further information as to why.
In the notice that Botcha shared on Twitter, the banks stated:
“After a careful view of your banking relationship, we’ve made the decision to close your account above.’’
Some of the twitter users urged Botha to start using bitcoin and the CEO of Civic Vinny Lingham joined to the thread asking ‘’Did you buy any Bitcoin?’’ Some people think that it is ‘’legacy finance digging its own grave’’ and the banks are really a joke which many indeed suggest using Bitcoin as s main solution for these issues caused by the centralized banking authorities. Some of the major characters in the industry joined the conversation such as CEO Changpeng Zhao of Binance and TRON CEO Justin Sun.
Zhao said to Botha ‘’Bitcoin never fires you’’ and he got immediately reminded that the company ‘’fired’’ all of the customers in the US in September for more than 10 days. The lawyer and blockchain enthusiast Preston Byrne warned that ‘’If BOA will do this to a partner at Sequoia and former CEO Of PayPal, they will do it to anyone.’’
This is not the first time that something like this happened and many people shared their stories as well. Bank of America closed the account of K9Ventures in January after 10 years of cooperation with them based on a ‘’ determination that this is a business type we have chosen not to serve.’’ Other people said however that after many years of using PayPal, the online payment giant simply closed their accounts and some claim that the company even used personal funds for a while. One user said:
“Paypal closed my business account, and kept USD 5000 for 6 months. No explanation, no one to discuss with.’’
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