Paxful makes shock announcement

Another crypto firm is shutting its doors. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap $1.19T (+1,21%) 24 Hour Volume $43.24B (-15.11%) Notable Movers[(RUNE) $1.61]( (+2.43%) Notable Movers (DeFi)[(LDO) $2.60]( (+3.11%) Bitcoin Dominance 45,61%[(-0.29%)]( Bitcoin Price[(BTC) $28,0001.00 (-0.51%)]( Ethereum Price[(ETH) $1,894.00 (+0.09%)]( Cardano Price[(ADA) $0,3019 (+0.08%)]( Editor's Note Paxful Shows How It's Done Last year was punctuated by endless crypto firms suddenly suspending withdrawals — leaving their customers in limbo — and then declaring bankruptcy. In most cases, their users remain out of pocket, and they will be for some time yet. Compare that with what's going on at Paxful. A few days ago, the peer-to-peer lending platform — which was founded all the way back in 2015 — announced that it was making things right for Earn customers affected when Celsius went bust. They would be made whole immediately, with the company diving into its own pockets to make it happen. At the time, Ray Youssef said the industry needs to hold itself to a higher standard — offering transparency and putting users above financial gain. And now, in a brutally honest blog post, Paxful has done just that. Instead of freezing withdrawals and plunging users into months of uncertainty, the company has said it's suspending operations. Customers retain full access to their funds, and are now being invited to take them elsewhere. A clearly tired Youssef shared a selfie on Twitter where he vowed that he wouldn't go to sleep until his customers received their crypto. And that was followed by a screenshot of his Paxful balance that said: "I'm not withdrawing my Bitcoin from Paxful until everyone else gets theirs out first." Paxful has been rocked by regulatory uncertainty and crucial staff heading for the door. But the way it's handled these setbacks has been incredibly classy to say the least. Other crypto firms might want to take a leaf out of its book. [Today’s Top Stories ]( Today’s Top Stories Paxful announces shock suspension 🚨 The crypto markets may be recovering, but the dominoes keep falling. Paxful has announced that it's suspending its services. In a shock statement, Ray Youssef said he's unsure whether the business will return. Key staff departures and regulatory challenges — especially in the U.S. — are to blame. The peer-to-peer platform is now urging users to self-custody their crypto. Crucially, Paxful has said all customer funds are accounted for. All of this comes days after the company unveiled plans to make its Earn customers, who were impacted by Celsius Network's bankruptcy, whole. Paxful was especially popular in Africa — especially in Nigeria — and had played a role in increasing crypto adoption on the continent. Cash App creator dies after stabbing 📰 Bob Lee — who created Cash App and used to serve as Square's chief technology officer — has died after a stabbing in San Francisco. He was attacked in the early hours of Tuesday morning and succumbed to serious injuries in hospital. Police haven't made any arrests in connection with his death. Bill Barhydt, the CEO of the Abra crypto wallet, said: "He was a decent human being who didn't deserve to be killed." Jack Dorsey, who is the CEO of Cash App's parent company Block, described the news as "heartbreaking" — and said Lee had played an instrumental role in the app's success. The tech executive had most recently served as chief product officer of MobileCoin, and was a passionate believer in cryptocurrencies. Coinbase insider trading case latest 👀 The U.S. Securities and Exchange Commission has an "agreement in principle" to resolve its claims against Ishan Wahi, a former product manager at Coinbase. He's been accused of sharing confidential information about when the exchange was planning to list coins — generating gains of $1.5 million. Although Wahi had initially denied the allegations, he later pleaded guilty alongside his brother Nikhil. The profits were possible because cryptocurrencies tend to enjoy a price bump after being listed on the platform. The case was blown open by influencer Cobie, who discovered that a wallet had bought hundreds of thousands of dollars worth of tokens about to be listed — 24 hours before an announcement was published. Ether on brink of breaking $2,000 📈 Ether has surged to its highest price since last August as excitement about an upcoming upgrade grows. "Shapella" — a portmanteau of the "Shanghai" and "Capella" upgrades — will allow validators to be reunited with ETH locked up in deposit contracts. And it's expected that the addition of withdrawals will make staking more attractive to everyday investors as well. The world's second-largest cryptocurrency has surged by 5.5% over the past week — comfortably ahead of Bitcoin, which is flat compared with seven days ago. "Shapella" is set to be finalized on April 12, and will mark the latest milestone in a long roadmap of improvements penciled in after The Merge was successfully completed last September. FTX Arena is officially no more ❌ After leaving the Miami Heat basketball team red-faced, FTX's sponsorship deal has officially been terminated. A new 17-year, $117 million deal has been brokered with the software company Kaseya — and the stadium will now be known as Kaseya Center. Officials in Florida had been desperately trying to wriggle out of the old naming rights contract after the exchange went bust last November, amid allegations that Sam Bankman-Fried had misused customer funds. Indicating that the team had been badly burned by its ties to the doomed company, Miami Heat executive Eric Woolworth said: "FTX created a challenging situation, and I'm sure there's been some reputation damage for us. The industry that Kaseya is in has a much longer history and is more stable than crypto." Thanks for reading! Have a great day — more news tomorrow! [Facebook]( [Twitter]( [Instagram]( [Telegram]( Brought to you with❤️ from CMC Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? 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