Peer-to-Peer Trading Platform Paxful Delisting Ethereum

2022-12-22 14:01

Coinspeaker
Peer-to-Peer Trading Platform Paxful Delisting Ethereum

Global peer-to-peer trading platform Paxful has announced that it will delist Ethereum from its platform. A newsletter sent to the platform’s 11.6 million users reveals that ETH trades will be halted on Thursday. A screenshot of the newsletter was shared in a tweet Paxful CEO Ray Youssef. In the letter, the CEO gives three reasons for his decision to delist Ethereum.

The first is Ethereum’s move from proof-of-work (PoW) to proof-of-stake (PoS). According to Youssef, PoW is what makes Bitcoin “the only honest money” while PoS has turned Ethereum into a “digital form of fiat.” For the second reason, Youssef alleges that Ethereum is not decentralized and is instead run by a group of people. While acknowledging the cryptocurrency’s utility in areas such as credit and lending, the CEO noted that Ethereum now  “thrives because of tokenization,” adding that Ethereum-based tokens have been used to scam people out of ”billions.” Youssef opines that such tokens have “stolen valuable momentum away from Bitcoin and cost us years on our mission.”

The “mission,” according to Youssef is to free people, especially those in the “Global South” from “economic apartheid.” The CEO believes that the “crypto industry is under attack right now – which means our responsibility to protect our users is greater than ever before.”

Youssef first revealed plans to delist ETH on December 12 when he responded to a tweet by Jeremy Garcia, a software developer who state that the Ethereum project was headed for failure owing to its poor design and “a foundation of sand” as opposed to Bitcoin’s “foundation of granite.”

https://twitter.com/raypaxful/status/1602111727944241152?ref_src=twsrc%5Etfw

The exchange added support for Ethereum in April last year, stating that “Ethereum gives users a different chance to claim their stake in the crypto world.”

Youssef is a known Bitcoin supporter and most recently, following the collapse of crypto exchange FTX, has been advocating for self-custody. He recently encouraged Paxful users to move their crypto to self-custody. Centralized exchanges (CEX) and self-custody have been major topics of discussion in the crypto industry following the FTX collapse.

next

Peer-to-Peer Trading Platform Paxful Delisting Ethereum

origin »

Bitcoin price in Telegram @btc_price_every_hour

Ethereum (ETH) на Currencies.ru

$ 1738.64 (+0.15%)
Объем 24H $10.423b
Изменеия 24h: -2.05 %, 7d: 7.18 %
Cегодня L: $1732.31 - H: $1738.64
Капитализация $209.825b Rank 2
Цена в час новости $ 1217.4 (42.82%)

ethereum trading peer-to-peer delisting platform paxful users

Источник: coinspeaker.com

ethereum trading → Результатов: 126


Market Action Report: Bitcoin, Ethereum, Ripple, Stellar & Litecoin Waver as BAT & ETC Rise on Coinbase Hype

Cryptocurrency values have taken a bearish turn this week as negative market sentiment suppresses a minor late-July rally, with most major alts taking a hit as confidence in Bitcoin wavers. Positive news from crypto trading giant Coinbase, however, has provided both Ethereum Classic and Basic Attention Token with immunity from bearish market action.

2018-8-7 07:12


Peru Shows Signs of “Accelerated Growth” in Crypto Trading

Latin America has turned out to be one of the most promising markets for cryptocurrencies around the world, with a dizzying growth in recent years. According to data from various sources, although other countries have a higher user base, the growth rate of some South American countries far exceeds that of other nations in the […] The post Peru Shows Signs of “Accelerated Growth” in Crypto Trading appeared first on Ethereum World News.

2018-8-5 09:04


Finance Giant Northern Trust Expands to Blockchain and Cryptocurrency

Northern Trust, the 486th largest corporation in the USA, has become the latest financial giant to expand operations into cryptocurrency and blockchain. As reported by Forbes, the 129-year-old institution now provides fund administration to a select group of hedge funds trading Bitcoin and Ethereum and incorporates blockchain-based software for managing private equity workflow.

2018-8-1 15:30


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru