Paxful, a peer-to-peer cryptocurrency marketplace, has removed Ether, the native token of Ethereum, from its marketplace, citing a number of concerns about the world’s second-largest cryptocurrency by market capitalization.
Paxful CEO Ray Youssef announced the change in a message to the platform’s 11.6 million users, which he then shared on Twitter.
Youssef cited three major concerns about the Ethereum ecosystem as the reason for the marketplace’s removal of ETH, citing Paxful’s intent to maintain its integrity and efforts to combat ‘economic apartheid’ around the world caused by fiat monetary systems:
“I want to see a world where Bitcoin frees billions of people held back by this evil system, especially those unnecessarily harmed living in the global south.”
Youssef also criticized Ethereum for not being decentralized and cited the protocol’s ability to allow the tokenization of assets as a driver of scams and fraud across the cryptocurrency ecosystem.
(Reporting by Shikha Singh, Editing by Laxmikant Khanvilkar)
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