Paxful appoints new interim CEO following revival
The new CEO, Roshan Dharia, was formerly an executive at TrustToken.
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.