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Paxful appoints new interim CEO following revival Paxful appoints new interim CEO following revival Mike Dalton · 2 years ago · 1 min read
News ▸ Exchanges

Paxful appoints new interim CEO following revival

The new CEO, Roshan Dharia, was formerly an executive at TrustToken.

Mike Dalton
May. 30, 2023 at 11:29 pm UTC
1 min read
Updated: Jul. 13, 2023 at 1:55 am UTC
Paxful appoints new interim CEO following revival

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

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Paxful said on May 30 that it has appointed Roshan Dharia to the role of interim CEO, where he will be tasked with “strengthening operations and exploring strategical alternatives.”

Roshan said in a statement:

“It’s a great honor to become CEO of Paxful…I look forward to hitting the ground running and building on the innovative technology developed by the Paxful team.”

Roshan previously served as a senior executive at TrustToken, which is best known for TrueUSD (TUSD), the fifth-largest stablecoin by market cap.

Paxful’s former CEO Ray Youssef acknowledged and implicitly criticized Roshan’s onboarding. He wrote on Twitter: “Paxful has a new defi CEO … expect a token soon.” Youssef said he has no part in Paxful’s business decisions and told users to “take their issues” to Roshan himself.

Paxful recovered after short conflict

Past reports from Cointelegraph suggest that Youssef entered a disagreement with co-founder Artur Schaback over the use of exchange funds in early 2023; this led to blocked salaries and resignations from certain teams and contractors.

Yousseff allegedly shut down Paxful on his own accord when it halted services on April 4. He subsequently stepped down from his role and committed his funds to a public trust that would be used to repay users.

The platform eventually announced its reopening on May 8.

Mentioned in this article
Paxful Ray Youssef
Posted In: Exchanges
Author

Mike Dalton

Journalist at CryptoSlate

Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.

Editor

Zaeem Shoaib Zuberi

Former Editor at CryptoSlate

Zaeem, an editor fascinated by business, finance, DeFi, and cryptocurrencies, holds a business and finance degree. His 14-year career in financial journalism spans sectors like banking, finance, insurance, and tech.

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In this article

Paxful

Exchange Company in Europe

Paxful is a peer-to-peer finance platform that allows anyone to transmit money and make payments by buying and selling cryptocurrencies.

More about Paxful

Ray Youssef

Former CEO at Paxful

Ray Youssef is the former CEO and co-founder of Paxful, a peer-to-peer finance platform for trading Bitcoin (BTC).

More about Ray Youssef
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