Peer-to-Peer Bitcoin Exchange Paxful to Suspend Operations

Paxful – a peer-to-peer (P2P) platform for trading bitcoin (BTC) – is suspending its marketplace, and is unsure whether operations will resume, according to a message from CEO Ray Youssef published on its website.

“This will probably come as a big shock to many,” said Youssef. “While I cannot share the full story now, I can say that we unfortunately have had some key staff departures.” Youssef also took note of regulatory challenges, particularly in the P2P market and in the U.S.

Recommended for you:

  • Bitcoin Stuck in Bearish Elliott Wave Pattern Despite 47% Rally, QCP Capital Says
  • Blockchain Bridge Wormhole Suffers Possible Exploit Worth Over $326M
  • UST Stablecoin Veers Wildly From Dollar Peg. Here’s the Latest
  • Join the Most Important Conversation in Crypto and Web3 in Austin, Texas April 26-28

The Paxful Wallet, said Youssef, will remain in operation in order for customers to retrieve their funds.

Interested  Drugs, Erratic Dismissals and Feuding Founders: Behind Bitcoin Marketplace Paxful’s Unraveling

Comments are closed.