Ray Youssef says he gave up his CEO title to address the unfreezing of 88% of user accounts more than a week after suspending operations.
The chief executive officer of peer-to-peer crypto marketplace Paxful has announced the unfreezing of 88% of previously frozen user accounts more than a week after suspending operations.roughly $4.4 million in frozen funds remained on the platform after staff had unfrozen 88% of existing accounts.
Youssef said though roughly 3% of total user funds were still frozen, he had made the unfreezing his “final act” as Paxful's CEO: “I gave up my title as CEO to unfreeze these accounts and am also in danger of being in contempt of court,” said Youssef. “That is what I did besides a lot of sleepless nights. Nothing more I can do but sleep well tonight. Integrity trumps risk.”
4.4m of frozen funds remain in Paxful, about 3.3% of total customer funds. We freed a total of 3m this year thru tremendous compliance effort. Those who would say that I am somehow destroying my reputation to steal 4m bucks are mad. I don’t have a price 4million or 4 trillion.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mercedes-Benz All-Electric Car Sales Increased 88% In Q1 2023In Q1, Mercedes-Benz Cars noted roughly 51,600 BEV sales (up 89% year-over-year from about 27,400 a year ago). That's more than 10% of the total volume.
Read more »
Gun violence is affecting 88% of Americans' mental health, study findsThe students from Uvalde, Texas chanted, 'End gun violence' after a gunman killed 19 children and two teachers at Robb Elementary School on May 24, 2022.
Read more »
Ghostbusters' Famous Theme Really Isn't The Franchise's Best SongRay Parker Jr.'s Ghostbusters is one of the most iconic movie songs of all time, but the Ghostbusters 2 soundtrack managed to outdo it.
Read more »
Meet the legendary 'Phantom of Madison Square Garden,' organist Ray CastoldiIt all began with an audition in 1989.
Read more »
Entertainment calendar: Stevie Ray Vaughn tribute band coming to TomballFind out what’s going on in the greater northwest Harris and Montgomery county areas.
Read more »