Mailchimp Bans Crypto and ICO-Related Emails
Recently, bitcoin and other digital currencies have been taking a powerful hit, as prices continue to decrease. Apart from massive speculation and ‘fear-selling’, there are a few other negative events that may have had an impact on the crypto price.
Recent reports indicate that Mailchimp, a popular mail-service provider, has decided to take up on a move that will restrict Initial Coin Offering fundraising efforts. With this in mind, the company has recently announced that they will no longer process emails related to blockchain technology and ICOs.
The policy change was announced via an email sent out to users. Shortly afterwards, the mail service provider begun shutting down accounts associated with ICOs and blockchain technology. Tech journalists, analysts and investors have reported having their mail accounts shut down. The move failed to truly surprise people, considering the fact that recently, a few social media companies have decided to limit or fully restrict posts and/or ads about digital currencies. Facebook, Twitter and Google all fall under this category. In return, this makes it more difficult for ICOs to gain traction and appeal to the masses, as some of their main communication channels have simply been shut down.
The Mailchimp announcement also mentioned that: “The promotion and exchange of cryptocurrencies is too frequently associated with scams, fraud, phishing, and potentially misleading business practices at this time.”
It has often been speculated that these companies, have only decided to limit ads/posts on crypto, blockchain and ICOs, due to the rising number of scam projects, meant to trick investors into sending their coins over, while the team isn’t actually working on any project. Indeed, there is no actual way for social media companies to quickly determine whether companies that pay for ads are indeed trustworthy, or are only after user funds. In return, simply staying out of the business is an abstinence effort that will ensure that their ads, posts and mails are a bit more trustworthy.
Additionally, Reddit also decided to no longer accept bitcoin as a method of payment for the Reddit Gold subscription. Reasons behind this move include a change in Coinbase’s protocols and several bugs.