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 offering over 350 payment options, the platform has garnered substantial popularity.
However, on July 7, Ray Youssef, the former CEO of Paxful, conveyed a message to the platform’s users, urging them to cease trading activities.
Financial Instability And Comparisons To FTX Collapse
Youssef expressed concerns about the current state of Paxful, claiming that the company is now solely focused on paying legal bills and cautioned that no African or non-American should trust any IS corporation. These warnings from Youssef were prompted by reports that Paxful had removed the reserve funds amount from the platform’s status page.
Related Reading: Paxful CEO Says He Has ‘Lost’ 5 Bank Accounts
Reserve funds are often savings accounts or highly liquid a
We współpracy z: https://www.newsbtc.com/news/ex-paxful-ceo-warns-users-to-stop-trading-are-their-funds-at-risk/
