Peer-to-peer (P2P) Bitcoin trading platform Paxful has resumed trading after a month-long hiatus caused by internal issues and regulatory pressure.
In a recent blog post, Paxful confirmed that the marketplace is back online with user safety and security as its top priority.
The suspension was due to a lawsuit filed by Artur Schaback, a co-founder of the platform, against Paxful CEO Ray Youssef and the company for wrongful termination.
The internal issues at Paxful reportedly stem from the sour relationship between Youssef and Schaback, which has caused the business to suffer on many fronts.
Despite the suspension, Paxful ensured that its wallet remained fully operational, allowing users to withdraw their funds and opt for self-custody.
The company also provided its community with a list of alternative P2P platforms, such as Noones, in case they wanted to continue trading.
Paxful has expressed its delight in getting back online and has vowed to continue serving millions of people without financial access.
The current situation at Paxful is that Schaback seeks a settlement and intends to exit the firm for good, while Paxful is now in the hands of a new custodian who serves as a director together with Schaback and Youssef.
The exact reasons for the sour relationship between the co-founders remain unknown, but rumors suggest that they do not see eye-to-eye when it comes to management professionalism.
