Cryptocurrency Exchange, Paxful on Tuesday announced that it was shutting down the exchange’s marketplace.
The firm, in a statement posted on its blog and signed by its CEO, Ray Youssef said that the firm had suffered a setback by the resignation of “some key staff”.
“Also, regulatory challenges for the industry continue to grow, especially in the peer-to-peer market and most heavily in the U.S. While we work through these issues, we have taken the most secure option and ask you to explore self-custody and trade elsewhere, ” it added.
Paxful noted that all customers would be able to withdraw their funds from Paxful Wallet.
“All customer funds are all accounted for. Please withdraw them and if you can — self-custody. We recommend options such as Exodus Wallet and Muun Wallet.
“We’re offering an easy migration to other options for non-U.S. users to platforms like Noones — a new P2P company dedicated to the Global South, ” Ray told customers.
