P2P Bitcoin Exchange Paxful Suspends Marketplace With Uncertainty of Return

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 Marketplace

En avril 4, 2023, Paxful released a article de blog stating that the peer-to-peer Bitcoin (P2P) exchange is suspending its operations. "Aujourd'hui, Paxful will be suspending its marketplace,” said the trading platform’s CEO, Ray Youssef. “We are not sure if it will come back," il ajouta. 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. En juin 2021, l'entreprise annoncé that it would donate 1% of its profits to charity. A week before the announcement that it would suspend services, Youssef informed the public that Paxful had reimbursed its Paxful Earn customers after issues related to the Celsius bankruptcy.

In a tweet on Tuesday, Youssef noted that many people were attempting to withdraw funds and transfers were taking longer than usual. “The Paxful database is a bit overloaded now as everyone is withdrawing funds, which is making transfers slow. I promise that funds are safe and will clear soon,” Youssef tweeté. Paxful is the second P2P Bitcoin exchange to close after Localbitcoins announced it was shutting down in February. The Helsinki, Finland-based Bitcoin exchange, founded in 2012, attributed the shutdown to the “ongoing crypto-winter.”

Tags dans cette histoire
Afrique, Bitcoin, Chaîne de blocs, business updates, Celsius bankruptcy, CEO of Paxful, Charité, industrie de la cryptographie, Crypto Hiver, Crypto-monnaie, marché des cryptomonnaies, Base de données, Décentralisé, Actifs numériques, digital transactions, portefeuilles numériques, economic news, Marchés financiers, Technologie financière, finland, Fonds, Helsinki, LocalBitcoins, Marché, P2P Exchange, Paxful, Paxful CEO, Paxful Earn, Paxful Exchange, D'égal à égal, Ray Youssef, Règlements, reimbursement, staff departures, suspension, commerce, transferts, Venezuela, Monnaie virtuelle

What do you think the suspension of Paxful’s marketplace means for the future of peer-to-peer Bitcoin exchanges, and how might it impact the wider cryptocurrency market and its users? Share your thoughts in the comments below.

Jamie Redman

Jamie Redman est le responsable de l'information chez Bitcoin-Tidings.com News et un journaliste spécialisé dans les technologies financières vivant en Floride. Redman est un membre actif de la communauté des crypto-monnaies depuis 2011. Il a une passion pour Bitcoin, code open-source, et applications décentralisées. Depuis septembre 2015, Redman a écrit plus de 6,000 articles pour Bitcoin-Tidings.com Actualités sur les protocoles perturbateurs qui émergent aujourd'hui.

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