.paxful removed ETH from its platform, with CEO raypaxful describing it as 'essentially a digital form of fiat.' By JamieCrawleyCD
Among the reasons for the move noted by Youssef was the Ethereum network's switch to proof-of-stake validation from proof-of-work.
"Proof-of-work is the innovation that makes bitcoin the only honest money there is, whereas proof-of-stake has rendered ETH essentially a digital form of fiat," he claimed. ETH is"controlled by a small number of people and one day you will need permission to use it," he continued. Youssef also cited the prevalence of scams among the tokens that operate on the Ethereum blockchain. Responding to questions on Twitter, Youssef said Paxful will continue offering trade in stablecoins Tether (
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