The 8-Year Journey Of Paxful Ends Amid Staff Departures, Regulatory Challenges And Law Suits
Join Our Telegram channel to stay up to date on breaking news coverage The eight-year-long-running Bitcoin marketplace Paxful yesterday on 4 th April, announced that they are suspending their business operations with no certainty of coming back and further directed customers to retrieve their funds from its platform. The announcement was made abruptly amid Binance FUDs, raising questions about the viability of P2P systems. Acknowledging that it may come as a shock to many, Ray Youssef, Founder and CEO of Paxful, said they could not share the full reason and story behind this step. Youssef, in the official statement, assured that “All customer funds are accounted for. Please withdraw them and, if you can, self-custody.” The full message from Ray can be viewed here . Nevertheless, Ray Youssef is already working to gain support for a new platform called Civ Kit, a P2P decentralised Bitcoin trading application based on the Nostr, which is a simplified, open protocol that makes i...