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Paxful’s New Interim CEO Has Been Announced

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After shutting down its operations in April this year, Paxful has opened up its marketplace again.

The Peer-to-Peer trading platform Paxful which was having issues with its co-founders has announced the appointment of a new interim CEO.

The trading platform announced Roshan Dharia as the new interim CEO through a Medium blog post.

Dharia’s appointment commenced immediately and he was tasked to ‘strengthen operations as well as explore strategic alternatives.

Paxful suspended its operations amid a demanding regulatory environment.

READ ALSO: US Delegates Visit Brussel to Learn EU’s Landmark Crypto Law

In addition, the exodus of certain top executives and the legal battle between Ray Youssef, the former CEO, and chief operating officer, and co-founder Artur Schaback also facilitated the temporary shutdown of operations.

How are Paxful Users Reacting to the News?

Taking to Twitter, Paxful users implore the current interim CEO to unfreeze the customer’s funds “We are really in need of our money” says one user.

Meanwhile, Ray Youssef, Paxful’s former CEO made comments concerning the newly appointed CEO.

According to him, he wasn’t related to the new appointment and “will never be a part of it” he says. Youssef even hinted that there will be a launching of a new token in the nearest future.

Who is Roshan Dharia?

Before he joined the P2P trading platform, Roshan Dharia was a top executive at TrustToken.

This platform was renamed Archblock in September last year and it’s the backbone of the 5th largest stablecoin by market cap, TUSD (TrueUSD).

READ ALSO: Binance Australia Users Spotted Selling BTC at a Discount

When Dharia was still working at Archblock, he was in control of the firm’s DeFi institutional lending outfit.

This outfit has redistributed almost $2 billion worth of stablecoins in loans to cryptocurrency firms.

In response to his new appointment, Roshan Dharia says that “he is honored to be appointed the new CEO of Paxful.

He went further to say that for the past 8 years, the P2P trading platform has been an innovator in creating the actual use cases of Bitcoin.

Moreover, through this process, Paxful has helped millions of people.

I look forward to actively taking the office and expanding on the innovative technology created by the Paxful team” he says.

 

 

 

 

 

 

 

 

 

 

 

 

 

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