CEO van Paxful bevestigt dat 88% aan rekeningen is ongedaan gemaakt

• Ray Youssef, CEO van Paxful, onthulde dat 88% van de bevroren tegoeden op de P2P-marktplaats zijn ongedaan gemaakt, terwijl meer dan 3% aan tegoeden bevroren blijft.
• Youssef confirmed that the marketplace had around $4.4 million in frozen funds remaining on the platform, which are “in the hands of” US regulators.
• “I gave up my title as CEO to unfreeze these accounts and am also in danger of being in contempt of court,” wrote Youssef in a Twitter thread.
• Youssef treedt op 18 april af als CEO van de Paxful Bitcoin P2P-marktplaats en gaat verder met een nieuw project.

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De aanhoudende crypto-winter beïnvloedde de activiteiten van veel crypto-bedrijven als gevolg van een enorme afname van hun gebruikersbestand, gevolgd door een afnemend handelsvolume op hun platforms. Bovendien speelde het onzekere regelgevingslandschap rond cryptocurrencies ook een rol bij het dwingen van veel bedrijven om hun activiteiten te sluiten. Interessant is dat de peer-to-peer crypto-marktplaats Paxful ook werd getroffen door de winter, en de CEO kondigde aan dat 88% van de eerder bevroren accounts met succes is ongedaan gemaakt. 

In een Twitter-thread, bevestigde de CEO van Paxful, Ray Youssef, dat de peer-to-peer-marktplaats ongeveer $4,4 miljoen aan bevroren tegoeden op het platform had, terwijl de rest van de tegoeden door het personeel meer dan een week na het opschorten van de operaties is vrijgegeven. 

“I gave up my title as CEO to unfreeze these accounts and am also in danger of being in contempt of court. That is what I did besides a lot of sleepless nights. Nothing more I can do but sleep well tonight. Integrity trumps risk,” Youssef said.

4.4m of frozen funds remain in Paxful, about 3.3% of total customer funds. We freed a total of 3m this year thru tremendous compliance effort. Those who would say that I am somehow destroying my reputation to steal 4m bucks are mad. I don’t have a price 4million or 4 trillion. pic.twitter.com/MU6GdUweZF

— Ray Youssef (@raycivkit) 16 april 2023

It is crucial to note that the executive confirmed that the unfreezing of these accounts was implemented “with no engineers or compliance folks,” adding that all remaining frozen funds were “in the hands of” United States financial regulators. Youssef also added in the Twitter thread that around 3% of the users’ funds remain unfrozen on the platform. 

“If your account is still frozen then I am sorry but I have no power to unfreeze those funds and they are in the hands of the US regulators. I have no access and have never had access to customer funds. Avoid US companies and always self custody!” Youssef stated.

He stated that unfreezing the 88% of frozen funds was his “final act” as the CEO of Paxful, and after achieving this goal, Youssef will step down as the Chief Executive Officer of the peer-to-peer marketplace on April 18 and continue with a new project.

Youssef stated that crypto investors should not trust centralized exchanges and platforms with their money, nor the regulators in the US, but should always prefer self-custody of their funds. Furthermore, he apologized to those whose funds remain unfrozen due to compliance issues with regulators, adding, “I have done more than anyone else would even entertain, and I cannot do anymore by law.” 

It is crucial to note that the “contempt of court” mentioned by Youssef in one of the Twitter posts as mentioned above is likely related to ongoing litigation between Youssef and Paxful co-founder Artur Schaback, who helped in laying the foundations for the Bitcoin peer-to-peer marketplace in 2015. Schaback claimed in a US court that the marketplace was involved in the misappropriation of funds, money laundering, and evasion of US sanctions, while Youssef said that these claims were “ridiculous.”

As reported earlier by Bitnation, Nigerian crypto users believe Paxful’s demise will maken het voor de meeste crypto-investeerders moeilijk om digitale activa te verhandelen in het land, aangezien de Centrale Bank van Nigeria cryptohandel en -transacties in 2021 verbood om het gebruik van cryptocurrencies voor misdaden zoals het witwassen van geld, wapenaankopen en terrorismefinanciering te beteugelen.

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