'Today, Paxful will be suspending its marketplace,' said the bitcoin trading platform's CEO, Ray Youssef. 'We are not sure if it will come back,' he added.
According to a message from Paxful Founder and CEO, Ray Youssef, the peer-to-peer bitcoin trading platform is suspending its marketplace, and the company is uncertain if it will return. Youssef cited challenges such as regulations and some key staff departures, but he also noted that he could not share the full story at this time.
Challenges Cited by Paxful CEO Ray Youssef Explain Why the P2P Bitcoin Exchange Is Suspending Its Marketplacestating that the peer-to-peer Bitcoin exchange is suspending its operations. “Today, Paxful will be suspending its marketplace,” said the trading platform’s CEO, Ray Youssef. “We are not sure if it will come back,” he added. Youssef continued by saying that the suspension may come as a shock to many and that he cannot share all the details at this time.
“I can say that we unfortunately have had some key staff departures,” Youssef wrote. “Also, regulatory challenges for the industry continue to grow, especially in the peer-to-peer market and most heavily in the U.S.” Paxful was co-founded by Ray Youssef and Artur Schaback in July 2015, and in 2018, it became the largest P2P exchange by volume. Over the past few years, Paxful has expanded considerably into Venezuela and Africa. In June 2021, the company
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