Paxful, citing centralization and scams EthereumIt pulls (ETH) from the list.
Paxful is removing ETH from the crypto market tomorrow and associating the associated tokens with scams that robbed billions of people. After the collapse of FTX, investors’ concerns have increased considerably. Although crypto platforms have increased their transparency efforts after these events, the CEO of the company, Ray Youssef, is looking for alternative ways.
Important Ethereum Step from Paxful
Person-to-person (P2P) crypto platform Paxful, said that they will remove it from the list, arguing that Ethereum brings security problems due to the transition to the proof-of-stake system.
CEO of the company Ray Youssef , earlier this year, criticized the use of ETH, calling it essentially a form of fiat. In a new letter to users, he wrote:
“Revenue is nice, but honesty comes first”
Youssef emphasized that ETH is decentralized, noting that it is managed by a group of people and will one day have to be acquired to use ETH. Moreover, ETH He said that . According to Youssef, the tokens revealed by ETH are fraudulent products that rob people of billions of dollars.
