In a recent letter to users of the Bitcoin P2P marketplace, Paxful CEO and co-founder Ray Youssef shared his Twitter message to users, informing users move their Bitcoins to self-regulatory mode.
And said users should not deposit on Paxful or any exchange, keep only the tokens they trade here.
Youssef took the example of banks in 2008 and more recently with FTX to advise users not to depend on those custodians and their ethics. However, he still insists customers can rest assured that if they want to keep their Bitcoins on Paxful, users’ funds will be safe.
It seems that the November crypto crash of Sam Bankman-Fried empire, considered the 2nd giant after CZ’s Binance, has drained investors’ confidence in the crypto market. Ray Youssef’s advice will probably also be noticed by most investors at this time when all the consequences of FTX have not been determined yet.
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