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Cedar · 3322 days ago · link · · parent · post: PayPal up to more dodginess: freezing funds then offering business loans
I agree with your points, but you have to admit PayPal have definitely earnt themselves a notoriety from pulling these sorts of shenanigans before. I think conventional wisdom nowadays is "Don't keep money in PayPal." which really should be the default behaviour for people anyway!
Paypal is more of an escrow company than a bank. You should never leave money at an escrow company. If I remember my history correctly, it was Elon Musk's desire to have Paypal be a bank and Peter Thiel's desire to have Paypal be an escrow company that caused Musk to get bounced.