Difference between revisions of "Paxful"
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* [[Peer-to-Peer network|Peer-2-peer]] trading platform for [[Bitcoin (BTC)|bitcoin]] a la [[LocalBitcoins|localbitcoins]]. | * Founded in 2015, [https://www.coindesk.com/tech/2023/04/08/drugs-erratic-dismissals-and-feuding-founders-behind-bitcoin-marketplace-paxfuls-unraveling/ closed down] in April 2023, not long after it stopped supporting ETH: | ||
''"Former employees allege, in lawsuits and in interviews with CoinDesk, that the company long suffered from severe lapses in management professionalism, including promotions based on favoritism, erratic dismissals, lavish spending on travel and reports of routine cannabis usage on the job by Youssef himself.'' | |||
''Schaback, a co-founder of Paxful with 50% of the company’s Class B common shares who served as chief operating officer, is suing Youssef in Delaware Chancery Court. Schaback says Youssef cut off his access to company resources and information while he was on paternity leave; and that Youssef and other “cohorts” have “looted Paxful coffers.” Key sections of the complaint containing alleged dollar amounts were redacted from the public version.'' | |||
''The lawsuit even goes so far as to accuse Youssef of “an illegal plan to avoid international sanctions on transactions into and out of Russia.”"'' | |||
*[[Peer-to-Peer network|Peer-2-peer]] trading platform for [[Bitcoin (BTC)|bitcoin]] a la [[LocalBitcoins|localbitcoins]]. | |||
*[https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/mark-yusko From] [[CoinTelegraph|Cointelegraph]] (3-2023): | |||
''"The company hit 10 million users worldwide and launched Bitcoin education centers in Nigeria and El Salvador to empower local communities financially. The foundation opened a Bitcoin Technology Center — appropriately abbreviated “BTC” — in Ghana to offer finance and technology education. The center was built in Kumasi, home to Kwame Nkrumah University of Science and Technology — one of Ghana’s largest, most prestigious universities.'' | |||
''In November, Paxful removed [[Ethereum (ETH)|ETH]] from its offering, citing Ethereum’s switch to [[Proof-of-Stake (PoS)|proof-of-stake]] and [[Centralized|centralization]] as the primary reasons."'' | |||
* Has a [https://www.coindesk.com/binance-adds-new-fiat-currency-options-through-integration-with-p2p-exchange-paxful joint effort] with [[Binance]]. | * Has a [https://www.coindesk.com/binance-adds-new-fiat-currency-options-through-integration-with-p2p-exchange-paxful joint effort] with [[Binance]]. | ||
*[[Ray Youssef]]; ex-CEO | |||
[[Category:Companies/Organisations]] | [[Category:Companies/Organisations]] | ||
Latest revision as of 04:06, 9 April 2023
- Founded in 2015, closed down in April 2023, not long after it stopped supporting ETH:
"Former employees allege, in lawsuits and in interviews with CoinDesk, that the company long suffered from severe lapses in management professionalism, including promotions based on favoritism, erratic dismissals, lavish spending on travel and reports of routine cannabis usage on the job by Youssef himself.
Schaback, a co-founder of Paxful with 50% of the company’s Class B common shares who served as chief operating officer, is suing Youssef in Delaware Chancery Court. Schaback says Youssef cut off his access to company resources and information while he was on paternity leave; and that Youssef and other “cohorts” have “looted Paxful coffers.” Key sections of the complaint containing alleged dollar amounts were redacted from the public version.
The lawsuit even goes so far as to accuse Youssef of “an illegal plan to avoid international sanctions on transactions into and out of Russia.”"
- Peer-2-peer trading platform for bitcoin a la localbitcoins.
- From Cointelegraph (3-2023):
"The company hit 10 million users worldwide and launched Bitcoin education centers in Nigeria and El Salvador to empower local communities financially. The foundation opened a Bitcoin Technology Center — appropriately abbreviated “BTC” — in Ghana to offer finance and technology education. The center was built in Kumasi, home to Kwame Nkrumah University of Science and Technology — one of Ghana’s largest, most prestigious universities.
In November, Paxful removed ETH from its offering, citing Ethereum’s switch to proof-of-stake and centralization as the primary reasons."
- Has a joint effort with Binance.
- Ray Youssef; ex-CEO
