Paxful Removes Ether from Marketplace Over Decentralization, Scams


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Intresting that Paxful choose to remove ETH... because of the reason that it's not decentralized and PoS now :)

Paxful, a peer-to-peer cryptocurrency marketplace, has removed ether (ETH) from its platform, citing several concerns about the cryptocurrency. In an official statement, Paxful CEO Ray Youssef explained that the decision was driven by the company's commitment to integrity and its mission to combat "economic apartheid" through the adoption of bitcoin.

Youssef listed three main reasons for removing ETH from the marketplace. The first was Ethereum's switch from proof-of-work (PoW) to proof-of-stake (PoS) consensus, which he argued had turned ETH into a "digital form of fiat" compared to the "honest money" of bitcoin, which uses PoW. Youssef also criticized Ethereum for not being decentralized and for enabling the creation of fraudulent tokens through its ability to tokenize assets.

In addition to these technical concerns, Youssef emphasized the importance of protecting Paxful's users in an industry that is "under attack" and the need to prioritize purpose over profit. He expressed his belief that the adoption of bitcoin has the potential to free billions of people from economic apartheid and to bring significant benefits to those living in the Global South.

Overall, Paxful's decision to remove ETH from its platform highlights the company's commitment to maintaining the integrity of its marketplace and to advancing its mission of promoting financial inclusion through the adoption of cryptocurrency.