BitPay Offers Financial Services to RT Following Bank Account Freeze


BitPay Offers Financial Services to RT Following Bank Account Freeze

BitPay co-founder and executive chairman Tony Gallippi has offered financial services to Russian state media outlet Russia Today (RT) after UK bank NatWest froze its accounts Monday.

Also read: Russia ‘Asset Exchange’ Sees Real Estate On Sale For Bitcoin

Gallippi To RT: ‘Learn To Use Bitcoin’

In an ongoing Twitter exchange involving RT presenter Max Keiser, himself a Bitcoin proponent, Gallippi suggested the broadcaster should download a Copay wallet as a solution.

The reactions are mounting UK bank NatWest’s decision. Owned by Royal Bank of Scotland, the institution suspend all facilities to RT on a seemingly permanent basis. A letter sent by the bank, which was since reproduced online, states no reason for the move. The shutdown is scheduled to take effect from December 12. previously suggested the idea of using Bitcoin to circumvent the move, with many other commentators later following suit.

Bitcoin’s Complex Niche to Fill

RT has yet to comment on the proposals. Instead, RT has directed media activity at scorning NatWest. A statement described the decision as “incomprehensible” and coming “without warning.”

“It is however not at odds with the countless measures that have been undertaken in the UK and Europe over the last few years to ostracise, shout down, or downright impede the work of RT,” it added.

In a post on Twitter earlier today, Chief Editor Margarita Simonyan sarcastically wrote “Long live freedom of speech!”

Gallippi also commented that the latest events “may finally get [Russia] to legalize [Bitcoin].” While the cryptocurrency is not officially illegal in Russia, pressure from authorities and official suggestions of a de facto ban have led many in the country to refrain from transacting.

Spectators will likely craft try to connect RBS’ to the weekend’s events in London. Wikileaks founder Julian Assange had his internet connection cut at the Ecuadorean Embassy, where he resides.

Keiser: Bank ‘Slaughtered’ Its Own Customers

Separately, Keiser has directly accused RBS of foul play in his capacity as an RT presenter on several occasions. Just last week, the host tweeted that the bank’s “business model” was to “slaughter their own business customers then sell the vital organs to a subsidiary – for resale at a huge profit.”

The prospects for the channel’s operations seemingly are not in doubt, with the statement adding that work would continue “uninterrupted.”

BitPay later told that Gallippi’s proposal was made as an individual, and is not an official offer from the company itself.

What do you think about Gallippi’s offer to RT? Let us know in the comments section below!

Cover image via Shutterstock.

Tags in this story
Max Keiser, NatWest, RBS, RT, Tony Gallippi

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William Suberg

William Suberg is a freelance digital tech journalist who has written extensively about Bitcoin, the blockchain and the evolving cryptocurrency ecosystem for a variety of publications. He has been writing for since January 2016.

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