March 2, 2024

Peer-to-peer (P2P) cryptocurrency trading platform Paxful is delisting Ethereum.

Paxful CEO Ray Youssef took to Twitter on Wednesday to announce the news, confirming a move he had hinted at ten days prior.

“We finally kicked #ethereum off our marketplace. 11.6m humans safer. Integrity over revenue,” Youssef said in a tweet, calling on fellow exchange runners to follow suit.

A screenshot of Youssef’s statement to clients accompanied the tweet. The text provided more details as to why the CEO chose to remove ETH from his P2P exchange. Youssef mentioned three overarching reasons for kicking Ethereum out: its move to proof-of-stake (PoS), a lack of decentralization, and the ever-growing dissemination of scams in its ecosystem.

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