{"id":523770,"date":"2023-03-20T12:30:27","date_gmt":"2023-03-20T12:30:27","guid":{"rendered":"https:\/\/ktsl888.com\/?p=523770"},"modified":"2023-03-20T11:58:37","modified_gmt":"2023-03-20T11:58:37","slug":"paxful-ceo-says-he-has-lost-5-bank-accounts","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/paxful-ceo-says-he-has-lost-5-bank-accounts\/","title":{"rendered":"Paxful CEO Says He Has &#8216;Lost&#8217; 5 Bank Accounts"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Ray Youssef, the founder of Paxful, a peer-to-peer (P2P) cryptocurrency exchange, now claims he has lost five bank accounts.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Ray Youssef Losses Five Bank Accounts<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In a tweet on March 20, Ray added that his close friends are also targeted and barred from opening bank accounts. For this development, the founder claims that there could be more risk of apartheid if countries start rolling out central bank digital currencies (CBDCs).\u00a0<\/span><\/p>\n<blockquote><p><span data-preserver-spaces=\"true\">I have lost five bank accounts, and now my friends are losing bank accounts by association. As bad as this is, this economic segregation will morph into outright apartheid in the west with CDBCs. They can cut off a whole social cluster because one uses bitcoin.<\/span><\/p><\/blockquote>\n<p><span data-preserver-spaces=\"true\">A CBDC is a form of digitized money controlled by the central bank and rolled out in a private or public blockchain, depending on the issuer&#8217;s needs. These tokens will allow central banks to distribute funds directly to citizens without using intermediaries like regional banks.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/paxful-founder-says-the-bitcoin-pump-to-26000-is-weak\/\" target=\"_blank\" rel=\"noopener \">Paxful Founder Says The Bitcoin Pump To $26,000 Is Weak<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">While this innovation is laudable and a progressive move, the centralized nature of CBDCs and the ability of the central bank to monitor citizens&#8217; bank accounts empower governments even more. It is a concern that Youssef shares after he lost his accounts and his associates barred from opening bank accounts simply because one of them is &#8220;using bitcoin.&#8221;<\/span><\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/U40IozzH\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/U40IozzH\/\" alt=\"Bitcoin Price On March 20| Source: BTCUSDT On Binance, TradingView\" width=\"1280\" height=\"595\"><\/a><figcaption class=\"wp-caption-text\">Bitcoin Price On March 20| Source: <a href=\"https:\/\/www.tradingview.com\/x\/U40IozzH\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT On Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">It is not immediately clear why Youssef lost his accounts and where those bank accounts were domiciled. At the same time, he didn&#8217;t divulge the amount he was forced to shift to other crypto-friendly banks or cryptocurrencies, including Bitcoin.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Paxful Popular In Argentina<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">However, what&#8217;s known is that he runs one of the world&#8217;s largest peer-to-peer exchanges enabling users from around the globe to trade various cryptocurrencies, including bitcoin, without an intermediary.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Some have\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/RobertGenito\/status\/20506112\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">blamed<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0the founder for losing his bank accounts, saying he ought to have maintained a low profile. Even though what the banks did is illegal, his online presence and comments on crypto make him an easy target, especially considering his association with the P2P crypto exchange.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Last week, amid the banking crisis in the United States, Paxful\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coin.dance\/volume\/paxful\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">allowed<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0traders to change over $35 million worth of cryptocurrencies.\u00a0<\/span><\/p>\n<figure id=\"attachment_523773\" aria-describedby=\"caption-attachment-523773\" style=\"width: 1251px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/coin.dance\/volume\/paxful\" target=\"_blank\" rel=\"noopener nofollow\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-523773 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/coin-dance-paxful-ALL-volume.png?resize=1251%2C550\" alt=\"Paxful Trading Volumes: Coindance\" width=\"1251\" height=\"550\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/coin-dance-paxful-ALL-volume.png?w=1251 1251w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/coin-dance-paxful-ALL-volume.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/coin-dance-paxful-ALL-volume.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/coin-dance-paxful-ALL-volume.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/coin-dance-paxful-ALL-volume.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/coin-dance-paxful-ALL-volume.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-523773\" class=\"wp-caption-text\">Paxful Trading Volumes: <a href=\"https:\/\/coin.dance\/volume\/paxful\" target=\"_blank\" rel=\"noopener nofollow\">CoinDance<\/a><\/figcaption><\/figure>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/all\/okex-paxful-join-hands-to-promote-crypto-adoption\/\" target=\"_blank\" rel=\"noopener \">OKEx, Paxful Join Hands to Promote Crypto Adoption<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">The platform is widely used in countries such as Argentina, Venezuela, and sub-Saharan Africa, where inflation is challenging. Recent data\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.bbc.com\/news\/world-latin-america-64960385\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">shows<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that inflation in Argentina has soared above 100% for the first time since the end of hyperinflation in the 1990s.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In December 2022, Paxful\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/raypaxful\/status\/54527488\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">delisted<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0Ethereum from its platform. The founder said the coin is a security and centralized, following the blockchain&#8217;s shift to proof-of-stake.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature Image From Canva, Chart From TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ray Youssef, the founder of Paxful, a peer-to-peer (P2P) cryptocurrency exchange, now claims he has lost five bank accounts. Ray Youssef Losses Five Bank Accounts In a tweet on March 20, Ray added that his close friends are also targeted and barred from opening bank accounts. For this development, the founder claims that there could be more risk of apartheid if countries start rolling out central bank digital currencies (CBDCs).\u00a0 I have lost five bank accounts, and now my friends are losing bank accounts by association. As bad as this is, this economic segregation will morph into outright apartheid in the west with CDBCs. They can cut off a whole social cluster because one uses bitcoin. A CBDC is a form of digitized money controlled by the central bank and rolled out in a private or public blockchain, depending on the issuer&#8217;s needs. These tokens will allow central banks to distribute funds directly to citizens without using intermediaries like regional banks.\u00a0 Related Reading: Paxful Founder Says The Bitcoin Pump To $26,000 Is Weak While this innovation is laudable and a progressive move, the centralized nature of CBDCs and the ability of the central bank to monitor citizens&#8217; bank accounts empower governments even more. It is a concern that Youssef shares after he lost his accounts and his associates barred from opening bank accounts simply because one of them is &#8220;using bitcoin.&#8221; It is not immediately clear why Youssef lost his accounts and where those bank accounts were domiciled. At the same time, he didn&#8217;t divulge the amount he was forced to shift to other crypto-friendly banks or cryptocurrencies, including Bitcoin.\u00a0 Paxful Popular In Argentina However, what&#8217;s known is that he runs one of the world&#8217;s largest peer-to-peer exchanges enabling users from around the globe to trade various cryptocurrencies, including bitcoin, without an intermediary.\u00a0 Some have\u00a0blamed\u00a0the founder for losing his bank accounts, saying he ought to have maintained a low profile. Even though what the banks did is illegal, his online presence and comments on crypto make him an easy target, especially considering his association with the P2P crypto exchange. Last week, amid the banking crisis in the United States, Paxful\u00a0allowed\u00a0traders to change over $35 million worth of cryptocurrencies.\u00a0 Related Reading: OKEx, Paxful Join Hands to Promote Crypto Adoption The platform is widely used in countries such as Argentina, Venezuela, and sub-Saharan Africa, where inflation is challenging. Recent data\u00a0shows\u00a0that inflation in Argentina has soared above 100% for the first time since the end of hyperinflation in the 1990s. In December 2022, Paxful\u00a0delisted\u00a0Ethereum from its platform. The founder said the coin is a security and centralized, following the blockchain&#8217;s shift to proof-of-stake. Feature Image From Canva, Chart From TradingView<\/p>\n","protected":false},"author":384,"featured_media":523771,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,14702,9245],"class_list":["post-523770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-cbdc","tag-paxful"],"acf":[],"yoast_head":"\n<title>Paxful CEO Says He Has &#039;Lost&#039; 5 Bank Accounts<\/title>\n<meta name=\"description\" content=\"Ray Youssef, the founder of Paxful, a peer-to-peer (P2P) cryptocurrency exchange, now claims he has lost five bank accounts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/paxful-ceo-says-he-has-lost-5-bank-accounts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paxful CEO Says He Has &#039;Lost&#039; 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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