Paxful Marketplace Comes Back Online Under Leadership By A Custodian
The company is resumed operations after being closed for more than a month.
- "After a month away, we’re happy to announce that the Paxful marketplace is back online."
- "In early April, we faced a difficult decision to temporarily suspend the marketplace to protect all of our customers and Paxful’s future."
- "We know it has been a difficult time for many of our users, who were understandably surprised by the sudden suspension, however, we are delighted to be back so that we can continue to serve millions of people without financial access."
- However, the announcement did not provide any details on the firm's current leadership or ongoing lawsuit that led to the suspension of operations.
- Paxful is presently under the ownership of a custodian who acts as a director alongside Artur Schabeck and Ray Youssef. “Right now we need the custodian because he’s a tiebreaker; otherwise we’re in a deadlock,” co-founder Artur Shaback said, per BtcTimes.com.
- Paxful's former CEO Ray Youssef clarified that he does not "vouch in anyway for anything that is happening there now" as he has resigned from the platform and is currently developing Civ Kit - a peer to peer marketplace network for censorship-resistant and permissionless trading.
- Paxful has more than 9 million registered users and facilitated more than $6 billion worth of trades since its launch in 2015.