Paxful Delists Ethereum Citing ‘Integrity Over Revenue’

Paxful, a P2P crypto marketplace, kicks Ethereum from its marketplace citing its increased centralization and ETH-based scam token.

Paxful CEO Ray Youssef Says He Will Be Delisted Ethereum From the stage on 22 December. Joseph cited integrity on revenue as the basis for his decision:

Yusuf reiterated the initial objective of the establishment paxful: To create a world where Bitcoin Will liberate people from the reality rife with economic apartheid.

The CEO further highlighted the reasons for eliminating ETH from its crypto exchange. According to Youssef, the upgrade of its consensus layer from proof-of-work to proof-of-stake has turned ETH into a digital form of fiat. When Ethereum was still working on PoW, it was as decentralized as Bitcoin. Youssef concluded that since the separation from PoW, the chain has moved under centralized control.

Finally, the CEO of Paxful mentioned several ETH-based scam projects that lured billions of dollars from investors and stole momentum from Bitcoin.

Earlier this month, Joseph asked for self defense of crypto assets. The CEO of Paxful established that they have never tampered with customer funds. As a show of support for self-custody, he advised users of the platform to move their assets to private wallets. In conclusion, Youssef advises users to monitor their assets and be mindful of developments involving their funds at stake.

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