Record of debanking in tech industry as brought into the zeitgeist by @pmarca on @joerogan.
They’ve uncovered a new way to destroy companies:
— Ben Averbook (@benaverbook) November 26, 2024
30 tech founders were secretly debanked.
No warning. No explanation. No appeals.
Pure, silent government power. pic.twitter.com/iKPn9XmI82
So the whole tech world is learning about OCP2.0 today via pmarca on Rogan. What happened exactly? For those curious, let's dig into OCP as it pertained to crypto. Quick thread https://t.co/xjj4o6rOJ6
— nic carter (@nic__carter) November 27, 2024
We were debanked by @jpmorgan @Chase after a 7 year banking relationship. 7 years!
— Sid Kalla (@sidkal) November 28, 2024
I went to several branches in Brooklyn and Manhattan, talked to our relationship manager, talked to a "specialist" in the Manhattan SoHo branch, called their number, spoke to like a dozen people… https://t.co/nxHxnBqbyX pic.twitter.com/c8ZMWN2aF5
Kept quiet about this for almost a year out of fear but since I'm in good company with @tyler @cameron @brian_armstrong @elonmusk now..Last December, I got a call from JPM saying "we have to close anyone's account that we know their primary source of income/wealth is crypto. This… https://t.co/xvJrO5eots
— sam.frax (@samkazemian) November 28, 2024
Yes—debanked repeatedly, in my company’s case (@custodiabank). Keep an eye on our pending lawsuit against the Fed. Oral argument is scheduled for Jan 21 (the day after Inauguration Day)
— Caitlin Long 🔑⚡️🟠 (@CaitlinLong_) November 27, 2024
This is true. We've been debanked multiple times for working in crypto.
— Josh Fraser (@joshfraser) November 27, 2024
After 26 YEARS of patronage, and paying millions in fees to them over that time, @WellsFargo debanked me without explanation. Checking, savings, credit card, personal line, non profit, business accounts…everything. I haven’t used my personal accounts for crypto purchases since… pic.twitter.com/NzWYpqgFGF
— J O H N P A L L Ξ R | pallΞr.Ξth (🦬,🦄) (@PallerJohn) March 30, 2024
This sounds so crazy until it happens to you. We had 30 days to move all of our money with no explanation from JPM.
— Bradley Miles (@Bradley_Miles_) November 28, 2024
Many crypto founders and companies had to deal with this in the last four years... https://t.co/j3UwFGmJnv
What a harsh reality to face! In 2020, I was debanked by Bank of America, despite being a loyal customer since the age of 15. All my personal checking, savings, and business accounts were abruptly shut down in a single day without any explanation. The experience was not only… https://t.co/WG8lbhIavS
— Lila (@Lila_VIMworld) November 27, 2024
We’ve been debanked many times over the last decade. It’s painful and a complete waste of time and energy. All because we are a tech company that helps legal cannabis retailers stay compliant. We even integrate with state regulatory bodies. Make it make sense. https://t.co/6MW54UnnQx
— Kyle Sherman (@KyleSherman) November 27, 2024
My bank account got shut down
— Dryden (@drydenwtbrown) November 27, 2024
My company — The Electric Coin Co, the original creators of Zcash — was debanked multiple times for no reason other than that our business was creating technology for cryptocurrency.
— zooko🛡🦓🦓🦓 ⓩ (@zooko) November 28, 2024
I got debanked in 2017, corporate and personal. This didn't start with the Biden admin, but it did get worse then.
— Arthur B. 🌮 (@ArthurB) November 28, 2024
2 business accounts closed (web3 cos), another business unable to open accounts at Chase & BoA (consulting co for web3 firms)
— davidev.eth 💜 (@davidesilverman) November 27, 2024
Plenty of others problems using tradfi rails over the years that require far too much navigating customer service and compliance teams.
My company was debanked.
— Jameson Lopp (@lopp) November 27, 2024
I’ve had 3 portfolio companies be debanked (one multiple times) and know dozens of friends who have been personally.
— Drew Volpe (@drewvolpe) November 28, 2024
Worth reading this whole thread 👇 Props to @nic__carter who has been writing about this for years. https://t.co/6WxDxWo50I
— Shane Burns (@ShaneBurnsDotUs) November 27, 2024
After getting my bitcoin mining business bank account closed at a major national bank, in 2018 I decided to open an account at First Tech Federal credit Union, figuring since they were in Silicon Valley they were OK with all sorts of new technology, but they closed my account…
— Rolf V (@rolfversluis) November 28, 2024
I have been debanked several times because of this
— Arush (FTX Creditor) (@arush) November 28, 2024
Checking in as a fellow debanked
— Lawson.fm (@lwsnbaker) November 28, 2024
My company was debanked.
— Joseph Denne (@josephdenne) November 28, 2024
I was debanked in 2014. There was a CoinDesk article about it.
— Nathan Lands — Lore.com (@NathanLands) November 28, 2024
They shutdown both my business account and personal account.
It’s real. https://t.co/hJvRZTm83o
Add me and my company to the tally
— Joey Santoro (@joeysantoro_eth) November 27, 2024
He said a16z had 30. yeah it's way higher I'm one of the others. Warren and her communist dictator machine is evil.
— David Gobaud (@davidgobaud) November 29, 2024
We were debanked by multiple banks and know multiple other startups that had the same issue
— Hamilton Keats (@hamiltonkeats) November 27, 2024
There’s many more of us
— Matty Ice 🗝 (@mattyicesensei) November 29, 2024
I've been debanked by 3 banks now:
— Shei (@0xshei) November 27, 2024
Chase
Citibank
Schwab
I got tired of it... that's why I started @Onesafeio https://t.co/9loeBdgza7
How Libra Was Killed.
— David Marcus (@davidmarcus) November 30, 2024
I never shared this publicly before, but since @pmarca opened the floodgates on @joerogan’s pod, it feels appropriate to shed more light on this.
As a reminder, Libra (then Diem) was an advanced, high-performance, payments-centric blockchain paired with a…