Paxful CEO: Removed ETH on their Marketplace.

This is Ray, the CEO of Paxful, and I’m writing to you personally as I have made the decision to remove ETH from our marketplace as of December 22 (UTC 12:00). Why? 

Effective on December 22, 2022, Paxful decided to remove ETH from their marketplace, according to the CEO of Paxful Ray. According to Ray, ETH is doing okay and quoted that “Revenue is nice, but integrity trumps all”.

Ray, CEO of Paxful deeply explained, that one of the biggest problems around the world is economic apartheid, which he added its one of the roots of human suffering. CEO Paxful’s vision is to free billion of people from bad systems using Bitcoin, and to avoid to the hard southern part of the Globe. This is where he build Paxful.

He added that it is somehow personal to him, that drives him to create Paxful.

Reasons Paxful Remove ETH, according to Paxful.

1. Ethereum changed a lot, where it was a proof of work and become a proof of stake. Proof of work is an innovation like obviously Bitcoin. where proof of stake has applied a form of digital fiat.
2. Ethereum is not decentralized, there is a group of people controlling ETH. not far from today, we might need to ask permission to use it.
3. Ethereum might have some uses in terms of and in such a case like a utility, some example like credit and lending, but then thriving for tokenization. It had some tokens that appeared and scammed many and robbed many people. Where stole precious momentum away.

To make things short, according to him, the industry has been attacked, which means that the responsibility to protect Paxful users is even greater than before, thus, he added that Paxful is not perfect, but making the right thing for its customer is enough. He added that people will be doing great where billions of scammed through stolen tokens are like pennies in comparison.

In short, our industry is under attack right now—which means our responsibility to protect our users is greater than ever before. We are not perfect, but we’ll always do the right thing, even if it’s not popular, and even if it costs us money. The payoff for all humanity will be so great that the billions of scammers have stolen via tokens will seem like pennies by comparison.