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Stripe will halt processing Trump campaign donations because of encouraged violence

January 11, 2021. Summarized by summa-bot.

Compression ratio: 56.1%. 1 min read.

A pedestrian wearing a protective mask walks past Stripe Inc. headquarters in San Francisco, California, U.S., on Thursday, Dec. 3, 2020. Stripe will team up with some of the world's largest banks to offer checking accounts to businesses that sell their wares on e-commerce platforms such as Shopify Inc. Photographer: David Paul Morris/Bloomberg via Getty Images

Stripe will halt payment processing for President Donald Trump's campaign website after last week's breach of the US Capitol.

New York (CNN Business)Stripe will halt payment processing for President Donald Trump's campaign website after last week's breach of the US Capitol.

The Trump campaign did not immediately respond to a request for comment.

Trump's campaign paid Stripe more than $1. 8 million in the 2020 election cycle, Federal Election Commission records show.

Last month, Trump's campaign and political operation reported raising more than $207 million between Election Day and early December as he inundated supporters with emails and texts asking for donations to help challenge the election results.

An increasing share of the money, however, flowed to a leadership political action committee that Trump established to help fund his post-White House activities.

Stripe's decision follows a number of other companies that have cut ties to either Trump or Republican legislators involved in contesting the counting of electoral results.

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