What was the real cause behind the paxful shutdown? Regulatory pressure, a feud between raypaxful and ArturPaxful or the smell of cannabis in the office? $BTC FrederickMunawa HeleneBraunn liqquidity report
appeared on the website of a local CBS TV affiliate in Miami Beach, Florida: Pedestrians in the upscale area, just a couple of blocks from the former Versace mansion, had spotted two men on the penthouse balcony of a multilevel condominium building, aiming antoward the streets below, and taking turns holding the weapon while apparently posing for photos.
Schaback, a co-founder of Paxful with 50% of the company’s Class B common shares who served as chief operating officer, is suing Youssef in Delaware Chancery Court. Schaback says Youssef cut off his access to company resources and information while he was on paternity leave; and that Youssef and other “cohorts” have “looted Paxful coffers.” Key sections of the complaint containing alleged dollar amounts were redacted from the public version.
“It was clear to everyone at the company that Schaback did not have any understanding of what a COO was supposed to do,” Youssef’s legal team argued in a March 17 filing in the Delaware case. Youssef said in a filing with the Delaware court that he “was responsible for the development of Paxful’s business operations, marketing, design, support and technical systems administration,” and “wrote some of the code for Paxful’s system,” while “Schaback wrote most of the code for Paxful.”
Eventually, U.S.-based Backpage was shut down and Paxful’s sex worker customer base disappeared. The company’s good fortune persisted however, when soon after the Backpage shutdown, new demand for a peer-to-peer platform beckoned in Nigeria, China and other emerging markets – where bitcoin was seen as a viable alternative in locales with less reliable currencies and payment systems.states that the four offices were located in New York City; Tallinn, Estonia; Hong Kong and Manila.
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