Paxful crypto exchange restarts services after suspending operations 30 days ago

Paxful P2P crypto trade platform is back online with full confidence after suspending operations in April citing a conflict between two key leaders of this platform. 

Paxful is a popular P2P Bitcoin & Ethereum trade platform. This exchange was founded by Ray Youssef and Artur Schaback in 2015. In April both of these two founders jumped against each other with several allegations. Ray Youssef as the CEO of the Paxful exchange decided to suspend Paxful services & suggested customers withdraw funds on self custody crypto wallet.

At the time, Youssef alleged that Schaback refused to pay salaries to the company’s employees and also blamed the unclear regulatory environment of the US, behind that big decision.

On 8 May 2023, the Paxful team announced that the Paxful crypto trade platform is back online with full functionality.

Earlier this, on 25 April, Youssef confirmed that he withdrew his bitcoin from the Paxful wallet and confirmed that he will now focus on bringing trust for the crypto investors & compensate for the issues that customers faced. 

At the time of writing this article, it is unconfirmed whether Youssef is the current CEO of Paxful or not but on the official website of Paxful, we can see Youssef’s name as a CEO. 

In April of this year, Youssef also confirmed that he was working with Block’s TBD division to develop a fully trusted P2P trade platform with encrypted messaging features for customers. 

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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