Paxful, the peer-to-peer crypto marketplace, has relaunched its operations after suspending them in April. While Paxful’s wallet remained functional during the suspension, the company has not provided details on how it will move forward. The announcement comes after Paxful’s CEO Ray Youssef and co-founder Artur Schaback made allegations against each other over misappropriation of company funds, money laundering, and evasion of US sanctions against Russia.
Youssef later cited the US regulatory environment as a reason for the shutdown and announced “key staff departures.” Youssef claimed that he had unfrozen 88% of certain users’ accounts and later said that he had made his “final act” as CEO.
Youssef has reportedly been working with Block’s TBD division to launch a peer-to-peer crypto trading platform called Civilization Kit, built on the decentralized network Nostr.