Breaking News: Paxful’s Interim CEO Promises Brighter Future for Crypto Traders!
- Paxful’s new interim CEO, Roshan Dharia, aims to strengthen operations and explore strategic alternatives.
- The platform previously experienced a short conflict between former CEO Ray Youssef and co-founder Artur Schaback over the use of exchange funds in early 2023.
- The conflict led to blocked salaries and resignations from certain teams and contractors, and Yousseff allegedly shut down Paxful on his own accord before stepping down.
On May 30th, Paxful announced that Roshan Dharia will be the company’s interim CEO.
The new CEO will be responsible for enhancing operations and identifying strategic alternatives. Roshan Dharia expressed his excitement about his new role, stating, “I am thrilled to become the CEO of Paxful. I plan to hit the ground running and build on the innovative technology created by the Paxful team.” Roshan previously served as a senior executive at TrustToken, which is well-known for being the creator of TrueUSD (TUSD), the fifth-largest stablecoin in terms of market capitalization.
Interestingly, the onboarding of the new CEO was not without controversy. The former CEO – Ray Youssef, took to Twitter to criticize the company’s decision to appoint Roshan. Youssef tweeted, “PF has a new defi CEO…expect a token soon.” It’s worth noting that Ray Youssef has no involvement in Paxful’s business decisions, and he advised users to approach Roshan directly with any concerns.
Paxful has had some issues in the recent past. Youssef had a disagreement with co-founder Artur Schaback over the use of exchange funds in early 2023. This led to blocked salaries and resignations from certain teams and contractors. Yousseff allegedly shut down Paxful on his own accord when it halted services on April 4th. He subsequently resigned from his role and committed his funds to a public trust that would be used to repay users.
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