Paxful CEO Ray Yousef notified clients in an email that the platform will be delisting Ethereum on December 22 at 15:00 (UTC).
We finally kicked #ethereal out of our market. 11.6 million humans safer. Integrity vs. Revenue 🤝🏽 Who’s next? pic.twitter.com/JTJXa5RYJ8
— Ray Youssef (@raypaxful) December 21, 2022
“The biggest problem in the world is the economic one racial discrimination. This is the root of all human pain. I want to see a world where bitcoin will free the billions of people held by this evil system, especially without the need for suffering residents Global South. That’s why I created Paxful, to fulfill this mission,” she wrote.
Yousef also listed the specific reasons behind the Ethereum delisting:
- algorithm change from Proof of work Up Proof of participationdue to which the second largest cryptocurrency by capitalization lost its uniqueness and became similar to the digital form of fiat;
- lack of decentralization and control of Ethereum by a small group of people;
- many billions of dollars of scams despite some successful ecosystem use cases.
According to the CEO of Paxful, the scam projects created by the possibility of tokenization “stole a precious moment from bitcoin” and cost the proponents of digital gold “several years of travel”.
“We’re not perfect, but we will always do the right thing, even if it’s unpopular and it costs us money,” she wrote.
We remind you that in December Yousef solicited bitcoin owners to self-store the cryptocurrency instead of using centralized exchanges.
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