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Former Paxful CEO Distances Self From The Platform As He ” Can’t Vouch For Anything Happening There”.

By Ekenedilichukwu May14,2023 #CEO #Paxful
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Bitcoin peer to peer P2P platform’s former CEO, Ray Youssef has again pointed out to the users of the peer-to-peer platform on May 9 that he left the company weeks ago and as such he cannot “vouch in any way for anything that is happening there now.” While he urged users to “trust no ones,” Youssef however said he will soon provide an update about a trust “set up to make any frozen funds whole.”

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The remarks by Youssef, who has repeatedly tweeted about his falling out with his co-founder at Paxful, follow reports suggesting that the P2P (peer-to-peer) marketplace was back up just a few weeks after it was shut down.

In early April, Paxful was forced to shut down by factors including the departure of key staff and regulatory challenges. Some reports also suggested that Youssef’s falling out with fellow Paxful co-founder Artur Schaback had also contributed to the marketplace’s abrupt shutdown.

However, a tweet shared by Paxful’s official handle on May 10 thanked users for their patience when the marketplace was down. The tweet also suggested that steps were taken to solve functionality issues.

Also Read: Nigeria Foremost P2P Bitcoin Exchange, Paxful Resumes Operation After Closing Down, A Month Ago.

“Thank you to the community for your patience, as we continue to gradually restore functionality to the marketplace. We are aware that some users’ accounts are mistakenly banned and our team is working to fix the issue,” Paxful said in a tweet.

Meanwhile, in another tweet, Youssef told a user who claimed to have been scammed on the platform that he no longer had any control and he too was banned. The former CEO also reiterated the same messages to other users that similarly asked about their blocked funds. When asked about what finally caused him to leave Paxful, Youssef said: “It is a wild story bro. We need a [Twitter] spaces.” 

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