P2P Marketplace Paxful Suspends Operations

The peer-to-peer marketplace was closed without prior notice and is "not sure if it will come back."

P2P Marketplace Paxful Suspends Operations
  • UPDATED (16:06 UTC): Paxful CEO Ray Youssef went live on Twitter Spaces to elaborate on the situation.
  • "While I cannot share the full story now, I can say that we unfortunately have had some key staff departures. Also, regulatory challenges for the industry continue to grow, especially in the peer-to-peer market and most heavily in the U.S."
  • "While we work through these issues, we have taken the most secure option and ask you to explore self-custody and trade elsewhere."
  • "All customer funds are all accounted for. Please withdraw them and if you can - self-custody."

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