🔥Peer-to-Peer Bitcoin Exchange Paxful to Shut Down 🔥

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.

The Paxful Wallet, said Youssef, will remain in operation in order for customers to retrieve their funds. Customers are being encouraged to transition to self-custody or use other service providers

Speaking on Twitter Spaces following this morning's surprising announcement, Youssef said there were concerns about the safety of customer funds thanks to a lawsuit by Paxful co-founder Artur Schaback