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PayPal Founder Admits Plan to Kill Gawker

It's about sticking up for the little guy: Peter Thiel

(Newser) - Peter Thiel admits he spent around $10 million to fund lawsuits against Gawker in the hope of ruining the media company—and it's "one of my greater philanthropic things that I've done." But "it's less about revenge and more about specific deterrence," the... More »

PayPal Founder May Be Behind Legal Attack on Gawker

Peter Thiel reportedly funding Hulk Hogan's lawsuit

(Newser) - The founder of PayPal has long made clear that he hates Gawker. Now Forbes reports that Peter Thiel is using his billions to fund a potentially devastating legal fight against the media group. Specifically, the report says Thiel has been secretly funding Hulk Hogan's lawsuits against Gawker over the... More »

PayPal Is Spinning Off From eBay

Mobile payment service is fastest-growing segment of company

(Newser) - eBay is splitting off its fastest-growing segment, PayPal, the e-commerce company said today. Investors applauded the news, sending eBay's shares up nearly 7% in morning trading. The move comes after months of pressure from activist investor and billionaire Carl Icahn. eBay CEO John Donahoe had been adamant that splitting... More »

PayPal Dumps Exec After Twitter Tirade

He blames his phone for late-night tirade

(Newser) - It's one way to leave a job: PayPal's director of global strategy is no longer with the company after a late-night flood of sweary, misspelled tweets directed at fellow execs. Rocky Agrawal was at Jazz Fest in New Orleans when the stream of tweets like "People who... More »

Is Ex-PayPal Honcho Behind 'Tips for Jesus'?

Server says tech tycoon left him $1K tip

(Newser) - Whether or not he is the big spender behind the TipsforJesus mystery , Jack Selby can probably expect an amazing level of service next time he walks into a restaurant. The venture capitalist and former PayPal exec has been identified as the man behind the massive tips left at establishments across... More »

PayPal Makes Man a Quadrillionaire—by Accident

But Chris Reynolds' good fortune doesn't last long

(Newser) - It's not too often you see the word "quadrillionaire" in a headline. Actually, probably never, considering Chris Reynolds of Media, Penn., was the first man to ever be one—albeit very, very briefly. Reynolds opened his PayPal statement this month to find he had been credited $92,233,... More »

Anonymous Says Hackathon Hit PayPal, Lady Gaga

Symantec, NBC also allegedly hit in Guy Fawkes Day hack-a-thon

(Newser) - Anonymous is holding an all-day hackathon today, as part of a global protest commemorating Guy Fawkes Day, and it's already claimed—or says it's claimed—a number of scalps. The group says it's stolen roughly 28,000 PayPal passwords, Gizmodo reports, though PayPal is telling customers it... More »

PayPal Unveils Mobile Payments Service

'Paypal Here' will compete with 'Square'

(Newser) - PayPal has launched a mobile payments service that lets businesses accept credit cards using a small triangular card reader attached to an iPhone. Called PayPal Here, the service is similar to existing mobile payments services such as Square . Customers will be able to pay using credit cards, their PayPal accounts,... More »

PayPal Exec Killed on Train Tracks

No details yet in Eric Salvatierra's death

(Newser) - Eric Salvatierra, a 39-year-old PayPal executive, was killed on Caltrain tracks in California Friday morning. The married father of three was struck on the northbound tracks, and his death remains under investigation. "All I know is he had his bike," Salvatierra's uncle tells the San Jose Mercury ... More »

PayPal Tells Publishers to Pull 'Obscene' E-Books

Remove controversial titles or else, booksellers told

(Newser) - PayPal is overstepping the bounds of its role as a payment processor by trying to ban e-books it deems obscene, publishers and free speech groups complain. At least three online publishers and booksellers received emails warning them that their accounts will be "limited" unless they pull titles "containing... More »

PayPal Founder Gives $1.7M to Ron Paul

Or more specifically, to Ron Paul's super PAC

(Newser) - PayPal co-founder Peter Thiel knows a thing or two about sending money, and last month he sent $1.7 million worth of it to "Endorse Liberty," a super PAC backing Ron Paul, according to documents released today. Thiel is a long avowed Paul fan, and is so far... More »

Yahoo Hires PayPal Prez as CEO

Scott Thompson will slide into hole left by the fired Carol Bartz

(Newser) - Yahoo fired Carol Bartz over the phone —no word on whether it made the offer to its new CEO in the same manner. PayPal President Scott Thompson has been selected to take the reins of the troubled Internet company, which has been without a permanent CEO since Bartz was... More »

Hackers Want PayPal Users to Close Accounts

Anonymous tries a boycott instead of a hack this time

(Newser) - The group Anonymous is going after PayPal again, but this time in the form of a legal boycott instead of an illegal hack, reports MSNBC . "We encourage anyone using PayPal to immediately close their accounts and consider an alternative," says a missive from Anonymous and LulzSec. The move... More »

UK Cops: We Caught LulzSec's 'Topiary'

19-year-old is reportedly a co-founder of the group

(Newser) - British police say they've arrested a key member of the notorious LulzSec and Anonymous hacking groups. "Topiary," a 19-year-old who allegedly serves as the groups' spokesperson, was arrested in his home and transported to a London police station, reports CNET . Cops also are searching the home of... More »

Feds Arrest 14 Alleged Hackers From Anonymous

They face charges related to last year's attack on PayPal

(Newser) - The hackers of Anonymous are apparently a far-flung group. The Justice Department today said it arrested 14 of them across nine states and the District of Columbia, reports the AP . They are accused of taking part in last year's attack on PayPal , which took place after the website suspended... More »

PayPal Sues Google, Says It Stole Trade Secrets

Goes after 'Google Wallet' mobile system

(Newser) - EBay and its PayPal subsidiary have filed a lawsuit accusing Google of stealing its trade secrets in the creation of its Google Wallet product . The suit names two executives—Osama Bedier and Stephanie Tilenius—who jumped ship to Google after long stints working at PayPal and eBay respectively, Reuters reports.... More »

Big Banks Try to Steal PayPal's Thunder

Google meanwhile to let you pay with swipe of the phone

(Newser) - Big changes could be afoot in the way Americans pay for stuff. Bank of America, JPMorgan Chase, and Wells Fargo are introducing a new service that will let customers easily transfer money from their checking account to someone else’s, the Wall Street Journal reports. The banks are hoping the... More »

Look Out, PayPal, Visa Wants Your Customers

Credit card giant working on person-to-person transactions

(Newser) - Visa will soon allow customers to use their credit and debit cards to send money to other individuals, reports AP . It's the same type of service offered by the likes of PayPal, but Visa will come into the market with the advantage of 1.85 billion cards in circulation. One... More »

WikiLeaks-Loving Hackers Strike MasterCard, PayPal

Companies who shunned site targeted

(Newser) - WikiLeaks' bank accounts have been frozen, a host of companies have stopped doing business with it, and its founder is in custody, but is anybody coming to its defense? Step up, 4chan. "Anonymous," a group linked to the notorious message board, has launched denial-of-service assaults against firms that... More »

MasterCard Blocks Payments to WikiLeaks

Credit card company won't allow use for 'illegal activity'

(Newser) - The world's stomp on WikiLeaks just hit the jugular: MasterCard is blocking all payments to the muckraking media site. "MasterCard is taking action to ensure that WikiLeaks can no longer accept MasterCard-branded products," said a company spokesman. "MasterCard rules prohibit customers from directly or indirectly engaging in... More »

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