Paxful closing, CEO blames staff departures, regulatory challenges

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Ray Youssef has had enough; Paxful packs it up.

Peer-to-peer cryptocurrency marketplace Paxful announced on April 4 that it was suspending operations. Paxful founder and CEO Ray Youssef“We are not sure if it [the marketplace] will come back,”

wrote. He added that all customer funds are accounted for and asked customers to withdraw their funds. The blog post provided links to other platforms that Paxful suggested for non-U.S. users to migrate to.in a Twitter Spaces meetup that Paxful is an American company that serves a global audience with a concentration on the Global South.

 

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