Texas 'anti-woke' bank goes bust after three months

Ash Jurberg

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Texas fintech company GloriFi - a bank that marketed itself as an "anti-woke" alternative for "pro-freedom" Americans has gone bust after less than three months in operation.

According to the Wall Street Journal, GloriFi offered bank accounts and credit cards and planned to provide mortgages and insurance while also touting capitalism, family, law enforcement, and the freedom to "love of God and country."

Conservative commentator Candace Owens was a co-founder and spokesperson for GloriFi, and billionaire Donald Trump supporter Peter Thiel backed the business.

All pages from the GloriFi website have been removed, and there is now a message to customers explaining the reasons for the collapse and what will happen to their funds.

"GloriFi has experienced a series of financial challenges related to startup mistakes, reputation attacks, the declining economy, and multiple negative media stories. As a result of developments late last week, the Board of Directors and leadership of GloriFi came to the heartbreaking conclusion that we need to wind down the company’s operations. Effective immediately, we began the process of helping our customers resolve their accounts. Look for more daily information and updates. This is NOT a result of any action by you, and we sincerely apologize for any inconvenience this may cause you." Statement of GloriFi website 

The Texas-based bank targeted "plumbers, electricians and police officers," who "are fed up with big banks that don't share their values."  

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