Tag: Paxful

Paxful offers Bitcoin via Costco card, sells out in hours

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Paxful, a peer-to-peer Bitcoin trading platform, has introduced an option for users to transact Bitcoin using Costco Cash cards. Paxful, a recognized peer-to-peer Bitcoin trading platform, has recently announced an expansion of its payment methods by including the option to buy and sell Bitcoin via Costco Cash cards. This integration reflects the ongoing efforts to diversify the ways in which cryptocurrency can be accessed by users. Fake news! 🚨 Costco is selling Gold not Bitcoin. 👀 This tweet refers to purchasing Bitcoin through a Third Party company called Paxful and…

Paxful announces new interim CEO

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Peer-to-peer (P2P) trading platform Paxful has appointed a new interim CEO to lead the company three weeks after resuming its marketplace.  In a Medium blog post, Paxful announced the appointment of Roshan Dharia as the company’s new interim CEO. Dharia, whose appointment immediately took effect, has been tasked with “strengthening operations and exploring strategic alternatives.” Following the announcement, Paxful users on Twitter asked the new CEO to unfreeze customer funds. Paxful recently resumed its marketplace after…

Former Paxful CEO Says He Cannot ‘Vouch for Anything Happening There Now’ — Platform Tells Users It Is Back Online – Featured Bitcoin News

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The former CEO of Paxful, Ray Youssef, has told users of the peer-to-peer bitcoin marketplace that he is no longer in control and therefore cannot vouch for “anything that is happening there now.” Youssef also told a user who claimed to have been scammed on the platform that he too has been banned from the platform. Former CEO Tells Users to ‘Trust No One’ The former CEO of Paxful, Ray Youssef, has again reminded users of the peer-to-peer platform on May 9 that he left the company weeks ago and…

Paxful bans former CEO days after resuming operations

Paxful, a peer-to-peer (P2P) crypto trading platform, has banned its co-founder and former CEO, Ray Youssef. Paxful drama unfolds This development comes just days after the company announced its return to operations.  In response to a customer complaint, Youssef revealed that he is no longer involved in the leadership of the crypto firm, emphasizing his lack of control over ongoing events.  The internal conflict between Ray and his fellow co-founder is mainstream knowledge.  In several instances, Paxful clients have expressed their concerns by tagging Ray Youssef in various tweets, seeking…

Paxful Resumes Trading after Month-Long Hiatus

The internal issues of Paxful stem from nothing else but the sour relationship between co-founders Youssef and Schaback. Peer-to-peer (P2P) Bitcoin trading platform Paxful has announced that normalcy has now returned to its marketplace. This follows after some internal issues and regulatory pressure forced the platform to suspend all activities, barely a month ago. In a recent blog post, however, Paxful has now confirmed its reopening while also sharing the reason behind the suspension. The firm noted that, at the time, the decision was in the best interest of the…

Paxful restarts marketplace operations for the first time since April

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Peer-to-peer crypto marketplace Paxful has announced it is back online after suspending operations in April. In an update posted to its website, Paxful said its team had relaunched the marketplace after more than 30 days. Though the platform said its wallet had “remained fully operational” during the suspended service, it’s unclear how Paxful intends to move forward. “Over the last month, our team has worked diligently to get the marketplace back online with the safety and security of users paramount,” said Paxful. : Paxful is back online. Over the next…

P2P Bitcoin Exchange Paxful Back Online After Temporary Suspension

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Paxful CEO announces 88% of accounts unfrozen, $4.4M in funds remaining

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The chief executive officer of peer-to-peer crypto marketplace Paxful has announced the unfreezing of 88% of previously frozen user accounts more than a week after suspending operations. In an April 16 Twitter thread, Paxful CEO Ray Youssef said roughly $4.4 million in frozen funds remained on the platform after staff had unfrozen 88% of existing accounts. According to Youssef, the unfreezing of accounts had been accomplished “with no engineers or compliance folks,” claiming all remaining frozen funds were “in the hands of” United States financial regulators. Youssef said though roughly…

Paxful co-founders’ litigation cites misappropriation of funds, money laundering, U.S. sanctions evasion

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A bitter dispute between Paxful’s co-founders Artur Schaback and Mohamad (Ray) Youssef in Delaware’s courts may have been the real reason behind the Bitcoin marketplace’s sudden closure on April 4.  Schaback and Youssef, who started Paxful in 2015 with a shared passion for Bitcoin (BTC), are now litigating the company’s control with several accusations against each other, according to court documents. Misappropriation of company funds, money laundering and evasion of United States sanctions against Russia are among the allegations. Founders disagree Schaback was chief operating officer (COO) at Paxful until February…