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IPFS News Link • Business/ Commerce

PayPal Lost $6 Billion in Valuation after Proposing $2500 Penalties. CEO to Step Down

• by DailyWire

The sell off came after PayPal deplatformed organizations and commentators for their political views and proposed imposing $2500 penalty for violations to its acceptable use policy that would have banned the promotion of "misinformation," as well as "hate, violence, racial or other forms of intolerance that is discriminatory." PayPal claimed that the guidelines were published "in error." PayPal CEO Dan Schulman, who has been the CEO since 2014, announced that he would retire from the financial services platform at the end of the year.

.PayPal CEO Dan Schulman announced that he would retire from the financial services platform at the end of the year.

Schulman, who will continue to serve on the company's board of directors, said that he wants to devote more time to his "passions outside the workplace." He became the company's chief executive in 2014 after a stint as enterprise growth president at American Express.