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Paxful Co-Founder Pleads Guilty to AML Conspiracy — Faces up to 5 Years in US Prison
[Jul 9 6:16 AM] A Paxful co-founder has pleaded guilty to conspiracy charges for failing to maintain an effective anti-money laundering (AML) program on the peer-to-peer cryptocurrency platform. This led to various criminal activities being conducted on the…
Paxful co-founder Schaback faces 5 years jail, admits AML failure
[Jul 9 12:12 AM] Artur Schaback, one of the co-founders of crypto exchange Paxful, has agreed to a plea deal with U.S. prosecutors that could see him locked up for five years.
Paxful Slashes Gift Card Fees by 80%, Volumes and Interest Surge
[May 30 4:32 AM] Paxful, the peer-to-peer cryptocurrency platform, has announced a significant reduction in transaction fees for gift cards. The company has slashed its fees by 80%, from the industry standard of 5% to just 1%. This has already resulted in a surge…
Ray Youssef: The Ray Narrative
[Oct 26, 2023 11:00 AM] This article is featured in Bitcoin Magazine’s “The Withdrawal Issue”. Click here to subscribe now.A PDF pamphlet of this article is available for download. When I started out as an entrepreneur, I never thought armed men would one day…
Ex Paxful CEO Warns Users to ‘Stop Trading’, Are Their Funds At Risk?
[Jul 11, 2023 6:00 AM] Paxful, founded in 2015, has established itself as one of the world’s prominent peer-to-peer Bitcoin marketplaces, with a strong mission to enable financial access for individuals globally. Boasting an extensive user base of 9 million and…
Former Paxful CEO Ray Youssef Urges Platform Users to ‘Cease Trading’
Paxful Announces Appointment Of Interim CEO Roshan Dharia
[May 30, 2023 2:12 PM] Paxful, a global peer-to-peer Bitcoin platform, has announced the appointment of Roshan Dharia as the new Interim Chief Executive Officer, effective immediately. This comes after a brief shutdown period of the exchange prior to the departure of…
Former Paxful CEO Says He Cannot ‘Vouch for Anything Happening There Now’ — Platform Tells Users It Is Back Online
P2P Bitcoin Exchange Paxful Back Online After Temporary Suspension
[May 8, 2023 11:49 AM] Peer-to-peer (P2P) bitcoin exchange Paxful has resumed operations after being shut down for over a month, the company said in a blog post.
Paxful CEO announces 88% of accounts unfrozen, $4.4M in funds remaining
[Apr 17, 2023 10:06 AM] “I gave up my title as CEO to unfreeze these accounts and am also in danger of being in contempt of court,” said Ray Youssef.
Peer-to-peer crypto exchanges struggle to navigate shifting legal landscape
[Apr 17, 2023 7:01 AM] Two major P2P platforms announced their closure in the first quarter of 2023. Many blame it on growing regulatory scrutiny, but experts call for better alternatives.
Drugs, Erratic Dismissals and Feuding Founders: Behind Bitcoin Marketplace Paxful’s Unraveling
[Apr 8, 2023 2:03 PM] Founded in 2015, Paxful became one of the most popular places to buy bitcoin in Africa and other emerging markets, with more than 200 employees. Behind the scenes, staff took paid trips to music festivals, bosses fought, dismissals reportedly…
Paxful co-founders’ litigation cites misappropriation of funds, money laundering, U.S. sanctions evasion
[Apr 6, 2023 3:15 PM] A bitter dispute between Paxful's co-founders in Delaware courts may have led to the crypto marketplace's sudden closure.
First Mover Americas: Ether Rising Ahead of Upgrade
[Apr 5, 2023 6:08 AM] The latest price moves in bitcoin (BTC) and crypto markets in context for April 5, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Paxful shutdown hits Nigeria harder than the rest of the world, here’s why
[Apr 5, 2023 5:30 AM] Paxful’s shutdown has left its global community heartbroken, but it has significantly impacted the Nigerian community, where it pioneered P2P crypto use.
As Bitcoin Platform Paxful Closes, Co-Founder Youssef Talks Up Alternatives
[Apr 4, 2023 10:12 PM] A whitepaper for Civilization Kit, a decentralized bitcoin peer-to-peer marketplace that also allows users to build their own decentralized marketplaces, will be published in several weeks. Noones, a new “Bitcoin peer-to-peer super app for the…
P2P Bitcoin Exchange Paxful Suspends Marketplace With Uncertainty of Return
[Apr 4, 2023 3:30 PM] According to a message from Paxful Founder and CEO, Ray Youssef, the peer-to-peer bitcoin trading platform is suspending its marketplace, and the company is uncertain if it will return. Youssef cited challenges such as regulations and some key…
Paxful closing, CEO blames staff departures, regulatory challenges
[Apr 4, 2023 12:20 PM] Paxful CEO Ray Youssef said U.S. regulators “don’t get it,” but infighting in the C-suite may have played a role in the company’s closure as well.
Peer-to-Peer Bitcoin Exchange Paxful to Suspend Operations
[Apr 4, 2023 9:16 AM] A message from CEO Ray Youssef cited key staff departures and regulatory challenges.
Peer-To-Peer Bitcoin Exchange Paxful Suspends Marketplace
[Apr 4, 2023 8:47 AM] The exchange cites staff departures and regulatory challenges for the suspension, saying they’re “not sure if it will come back.”Paxful, one of the world’s largest peer-to-peer (P2P) cryptocurrency exchanges by volume, has announced the suspension
Paxful to return lost Celsius funds to Earn users
[Mar 29, 2023 1:46 PM] Peer-to-peer marketplace Paxful will refund its Earn program users impacted by Celsius Network's bankruptcy.
Paxful Announces Decision To Personally Return Lost Celsius Funds For Paxful Earn Users
[Mar 29, 2023 11:05 AM] The global bitcoin exchange will dig into its own coffers to reconcile users who lost their money as a result of the collapse of Celsius.Global peer-to-peer Bitcoin platform Paxful announced it will provide almost nine bitcoin worth ~$250,000.00 to…
Paxful CEO Says He Has ‘Lost’ 5 Bank Accounts
[Mar 20, 2023 6:30 AM] Ray Youssef, the founder of Paxful, a peer-to-peer (P2P) cryptocurrency exchange, now claims he has lost five bank accounts. Ray Youssef Losses Five Bank Accounts In a tweet on March 20, Ray added that his close friends are also targeted and barred…
Paxful Founder Says The Bitcoin Pump To $26,000 Is Weak
[Mar 15, 2023 5:50 AM] Despite the banking crisis in the United States and the latest inflation data, Bitcoin surged this week, reaching a nine-month high above $26,000. However, Paxful founder, Ray Youssef, remains doubtful of the uptrend. In a tweet on March 15, he…
Crypto Neobank Wallbit Leaves Venezuela Due to Sanctions
[Feb 28, 2023 6:30 AM] Wallbit, a crypto-enabled neobank, announced it would stop serving users in Venezuela after its banking partner in the U.S. called on it to do so. The platform announced this move was the direct result of the economic sanctions that the country is…
Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims
Paxful to Drop Ethereum Trading Due to Increased Centralization and Consensus Mechanism Pivot
[Dec 22, 2022 6:30 AM] Paxful, a New York-based, peer-to-peer (P2P) cryptocurrency exchange, will drop Ethereum trading from its platform on Dec. 22. Ray Youssef, CEO of the company, cited different reasons for this decision, with increased centralization and the recent…
Crypto Trading Platform Paxful Delists Ethereum In 'Integrity' Move: CEO
[Dec 21, 2022 8:10 AM] Paxful CEO Ray Youssef said Ethereum is being removed from the trading platform due to its shift to proof-of-stake and lack of decentralization.Peer-to-peer (P2P) cryptocurrency trading platform Paxful is delisting Ethereum.Paxful CEO Ray Youssef…
Crypto platform Paxful removes ETH from its marketplace
[Dec 21, 2022 8:09 AM] Paxful CEO Ray Youssef highlights Ethereum’s move to proof-of-stake, perceived centralization and token minting ability as reasons for the move.