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Stripe cuts ties with Trump

Stripe cuts ties with Trump

Stripe has cut off the processing of payments for Donald Trump's campaigning Website amid widespread condemnation of the outgoing President's role in stoking up mob violence on Capitol Hill.

Stripe follows social media sites like Facebook and Twitter in distancing itself from Trump, who faces possible impeachment for encouraging his supporters to storm the US Capital building in a last-ditch bid to overturn the election of Joe Biden.

The resulting riot led to the death of five people.

The Trump campaign’s removal from Stripe comes after what the company reportedly calls violation of its policies against encouraging violence.

Late last week, software maker Shopify removed stores affiliated with Donald Trump from its platform, and payment processor PayPal shut down an account raising funds for Trump supporters who traveled to Washington.

Stripe's association with the Trump campaign has caused it trouble in the past. In February 2019, the company found iself embroiled in a US Federal investigation into donations made to Donald Trump's inauguration committee, for which the Irish company provided the the technology used for processing credit card payments.

Interest in the firm was piqued by a six degrees of separation connection to Trump's inner circle through Joshua Kushner, the brother of Jared, Trump's son-in-law and political adviser. Josh Kushner is a major investor in Stripe through Thrive Capital, a venture capital firm he founded and still oversees.

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