Paxful CEO Announces the Exchange is Delisting Ethereum

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Paxful CEO Ray Youssef has said the exchange users that the platform plans to delist Ethereum next December 22.

According to him:

“The biggest problem in the world is economic apartheid. This is the root of all human pain. I want to see a world where bitcoin will free the billions of people held by this evil system, especially the unnecessarily suffering people of the Global South. That’s why I created Paxful – to fulfill this mission.”

He has also listed the specific reasons behind the delisting of Ethereum, including changing the algorithm from Proof-of-Work to Proof-of-Stake, the lack of decentralization and control of Ethereum by a small group of people and the fact that many billions of dollars of scams despite some successful ecosystem use cases.

According to him, the scam projects created by the possibility of tokenization “stole a valuable moment from bitcoin” and cost digital gold advocates “several years of travel”.