Paxful Announces Decision to Wind Down Operations \ stacker news ~bitcoin

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Paxful Announces Decision to Wind Down Operations paxful.com/university/paxful-closure-announcement

345 sats \ 9 comments \ @P2P_bitcoin 2 Oct bitcoin

This strategic choice follows the lasting impact of historic misconduct by former co-founders Ray Youssef and Artur Schaback prior to 2023, combined with unsustainable operational costs from extensive compliance remediation efforts. Paxful unequivocally condemns the past actions of its former co-founders, which are inconsistent with the company’s current values and ethical standards under new ownership.

Why would one write this?

100 sats \ 0 replies \ @standard_sats 2 Oct

I wonder. Back in 2020-2021 Ray explained it pretty clear, why they work in Africa and why they spend so much on compliance.

5 sats \ 3 replies \ @cointastical 2 Oct

Bitcoin Global P2P just shut down too.

#1235257

Wonder if there's new regulations somewhere or something impacting P2P trading.

5 sats \ 2 replies \ @SwapMarket 2 Oct

AML/KYC is forced on every crypto service, including p2p.

5 sats \ 1 reply \ @SpaceHodler 2 Oct

Not on Robosats

5 sats \ 0 replies \ @SwapMarket 2 Oct

Sure, because the coordinators are stealth.

7 sats \ 0 replies \ @realBitcoinDog 2 Oct

I remember them

NYKNYC

1 sat \ 0 replies \ @TheBTCManual 2 Oct

I used to use Paxful before they pushed the KYC and once I hit the trade limit I was done. Scored some great P2P deals on there, oh well hopefully that volume moves to robosats, peach and nostr

0 sats \ 0 replies \ @orto 2 Oct

They blame two former managers...