{"id":19483,"date":"2023-04-04T17:10:08","date_gmt":"2023-04-04T17:10:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/peer-to-peer-crypto-exchange-paxful-to-suspend-operations\/"},"modified":"2023-04-04T17:10:08","modified_gmt":"2023-04-04T17:10:08","slug":"peer-to-peer-crypto-exchange-paxful-to-suspend-operations","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/peer-to-peer-crypto-exchange-paxful-to-suspend-operations\/","title":{"rendered":"Peer-to-peer crypto exchange Paxful to suspend operations"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1680625678948-23f5cff4-1154-41e9-9237-24faa1384398-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1680625678948-23f5cff4-1154-41e9-9237-24faa1384398-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1680625678948-23f5cff4-1154-41e9-9237-24faa1384398-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1680625678948-23f5cff4-1154-41e9-9237-24faa1384398-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Paxful will temporarily halt operations.<\/li>\n<li>The exchange\u2019s CEO however stated that they are not sure if it will resume operations.<\/li>\n<li>This is the second peer-to-peer crypto exchange to shut down.<\/li>\n<\/ul>\n<p>Paxful CEO Ray Youssef has <a href=\"https:\/\/paxful.com\/sign-up-transition\">published a post<\/a> on the exchange\u2019s website stating that the peer-to-peer (P2P) exchange will be suspending its marketplace. Ray went ahead to state that they are not sure if the exchange will resume operations.<\/p>\n<p>This is the second popular P2P exchange to shut down in 2023 after <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-exchnage-localbitcoins-is-shutting-down\/\">LocalBitcoins announced shutting down<\/a> in February.<\/p>\n<h2>Key staff departures and regulatory challenges<\/h2>\n<p>The CEO cited key staff departures and regulatory challenges in the post saying:<\/p>\n<p><em>\u201cThis will probably come as a big shock to many. While I cannot share the full story now, I can say that we unfortunately have had some key staff departures. 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.\u201d<\/em><\/p>\n<p>The CEO said that the biggest priority at the moment is safeguarding customer funds and advised customers to withdraw where possible. He has gone ahead to recommend withdrawing to self-custody wallets like <a href=\"https:\/\/coinjournal.net\/wallets\/exodus\/\">Exodus <\/a>and Muun.<\/p>\n<p>Ray also stated that Paxful will be offering an easy migration to other P2P alternatives for non-US customers. He highlighted three P2P exchanges namely Noones, Bitnob and Yellow Card.<\/p>\n<p>The Paxful Wallet will however remain operational for customers to retrieve their funds.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/peer-to-peer-crypto-exchange-paxful-to-suspend-operations\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Paxful will temporarily halt operations. The exchange\u2019s CEO however stated that they are not sure if it will resume operations. This is the second peer-to-peer crypto exchange to shut down. Paxful CEO Ray Youssef has published a post on the exchange\u2019s website stating [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":19484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19483"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19483"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19483\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/19484"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}