Paxful has removed Ether from its Peer-to-Peer marketplace, citing multiple concerns about the world’s second-largest cryptocurrency by market capitalization.
Paxful CEO Ray Youssef announced the move. to approximately 11.6 million platform users, who later shared the news on Twitter.
We finally kicked #ethereum off our marketplace. 11.6m humans safer. Integrity over revenue
Who is next ? pic.twitter.com/JTJXa5RYJ8
— Ray Youssef (@raypaxful) December 21, 2022
Youssef highlighted three key concerns about the Ethereum ecosystem that led to ETH stripping, citing Paxful’s intentions, stating, “I want to see a world in which Bitcoin frees billions of people controlled by evil systems.” this bad”
Ethereum’s shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS) was the first reason Youssef described PoW as “the innovation that makes Bitcoin the only honest money that exists” and the change. The move of Ethereum to PoS has turned ETH into a “digital fiat”.
Youssef also criticized Ethereum as being not decentralized and cited the protocol’s ability to allow asset tokens to be a driver of scams and fraud throughout the cryptocurrency ecosystem.
“The tokens created by ETH are a scam that has robbed billions of people. They stole valuable momentum from Bitcoin and cost our mission for years.”
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