Recently a number of third parties that sell eBay gift cards have either removed them entirely (Target & Staples) or limited the amount you can purchase (Gyft). I don’t think it’s a coincidence that sites that were selling these gift cards that also earned 5%/5x (or had way to buy endless quantities with themselves e.g Target) are the ones that have been shut down.
What I think is that eBay tracks what gift cards are sold where and what those gift cards are used on. The majority of eBay gift cards purchased from those retailers would have been from people purchasing other gift cards for resale on eBay, something that is unlikely to be profitable for them (keep in mind they are usually already discounted and then eBay is giving the retailer that sells their gift cards a cut, paying a portal bonus and also giving out eBay bucks). So they have simply decided to either reduce the discount those retailers get on purchasing eBay gift cards in bulk or prohibited them from selling eBay gift cards all together.
This makes sense to me, as Staples are still selling physical gift cards (both in store & online) and Gyft are still selling lower denomination gift cards (presumably more likely to be given as a gift and left unredeemed or redeemed on items with a larger profit margin and possibly without a portal payout/eBay bucks).
