Ray Youssef, CEO of the international P2P platform Paxful, announced on Twitter that the second largest cryptocurrency by capitalization has been removed from the trading platform.
ETH was officially disconnected from the Paxful platform on December 22 at 12:00 UTC. According to Yousef, the first reason for the delisting was the network’s transition from Proof-of-Work to Proof-of-Stake, which took away the uniqueness of Ether and made it functionally similar to fiat currency. The second reason was the lack of decentralization of the Ethereum network, since it is controlled by a limited circle of validators.
We finally kicked #ethereum off our marketplace. 11.6m human safer. Integrity over revenue Who is next? pic.twitter.com/JTJXa5RYJ8
— Ray Youssef (@raypaxful) December 21, 2022
Yousef noted that not the last influence on his decision was a series of high-profile scandals and billions of dollars of fraud that thrive in the Ethereum ecosystem. However, Paxful will continue to support stablecoin trading as it has “potential and real use cases.”
Earlier, economist and cryptocurrency skeptic Peter Schiff shared with the crypto community the opinion that the capitalization of the two most popular stablecoins USDT and USDC will exceed the total capitalization of bitcoin.
Source: Bits
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