Former Overstock CEO Patrick Byrne has been banned from Twitter
Twitter is officially suspending the account of Patrick Byrne, an enthusiastic and dedicated online ally of Donald J. Trump during the 2020 election. He is the founder and longtime CEO of former e-tailing giant Overstock – one of the first companies to accept crypto payments, launched the tZERO platform for trading security tokens, and acquired the company behind Ravencoin.
Byrne was banned from Twitter on Tuesday. The social media company has loud Crypto Trader app not yet explained why it removed Byrne, but he has made several allegations of voter fraud in recent months.
In late November, it announced that it would fund a team of hackers and cybersleuths to validate the conspiracy theory that fueled the insurgency at the Capitol. The courts found no credible evidence of the alteration or manipulation of vote totals.
In late December, he created the story that he was present at a meeting of Trump advisers on election reversal strategy, where Trump and others discussed how to reverse Trump’s loss to President-elect Joe Biden.
„My involvement is that I was in the room when it happened. Among the voices raised was mine. I can promise you this: President Trump has been assisted terribly by his advisers. They want him to lose and they are lying to him. He is surrounded by mediocre lies.“ – tweeted Byrne.
In recent times, the night before the riot at the Capital, he told a crowd of Trump supporters that the „rigged election“ represents the rise of an authoritarian regime.
After attempting to issue a warning against misinformation, Twitter has finally officially banned the @PatrickByrne account on grounds of „violating Twitter rules“.
The consequences of Twitter’s ban on Patrick Byrne
In response to the social media move, Byrne described his censorship as „Orwellian“ and „fascist“. He shared the news with Gizmodo on 14/01/2021:
„Twitter was not part of my life. I never used it even once until a year ago (all previous tweets were from a press assistant). In the last year I used it a handful of times at most, until I got involved in this election fraud a couple of months ago. I’ve used it extensively, and my followers have grown to 300,000. Why did they do that? Because they are Orwellian. Fascism is a left-wing phenomenon, remember.“
The decision to remove users, posts and tweets has been criticised by some for violating free speech rights. Facebook, YouTube and Snapchat have already taken steps to censor Mr Trump, while Amazon has shut down Parler, an app widely used by his supporters.
On Monday 11 January 2021, the German chancellor’s spokesman said he found the social media ban „problematic“. And the Mexican president said:
„I don’t like anyone being censored“.
Bruce Fenton – founder and CEO of Atlantic Financial – comments on the ban of former Overstock CEO Patrick Byrne:
„Censorship is wrong. This platform will fail.
Twitter users argue that a closed platform has no chance against an open and free exchange of ideas. Clearly, in a context of censorship, regardless of whether one is a bitcoin investor or a former CEO of Overstock, violating Twitter’s rules has its consequences.
Twitter has banned the account of Patrick Byrne. Byrne is a long time Bitcoiner and investor and former CEO of Overstock who led the decision of the company to originally accept Bitcoin and invest in the space.
Censorship is wrong. This platform will fail.
– Bruce Fenton (@brucefenton) January 13, 2021
It’s unclear how US President-elect Joe Biden plans to regulate Big Tech, but he’s likely to make a big change. As he has said before, he wants companies like Facebook and Twitter to do more to stamp out hate speech and fake news.