A popular peer to peer cryptocurrency exchange, Paxful has resumed operations after a month-long temporary suspension.
The Company Started Operations Under the Management of a Mediator after its Founders Disputed
Co-founder Artur Shaback said the P2P platform Paxful is up and running and is managed by a Delaware attorney. Schabeck said, “We need a probation officer right now as it’s a balancing act; “Otherwise, we will be in a stalemate.”
The platform shut down in April when the company fell into crisis and Shaback sued co-founder Ray Youssef, who later resigned as CEO.
Youssef recently said that Paxful decided to dissolve the company in November due to legal uncertainties in the US. Paxful was one of several companies affected by the regulatory environment in the US, which included sanctions actions against exchanges and lawsuits from oversight agencies.
Announcing the news on its blog, the company said it had to temporarily close its marketplace in early April to protect its customers and its future.
At the time of the shutdown, Paxful assured its users that their wallets are still fully functional and that they can transact on other peer-to-peer platforms. The company also thanked its community for their support and patience.
Paxful said it is working hard to bring the marketplace back online with enhanced security and safety measures.
*Not investment advice.
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