Paxful, a cryptocurrency marketplace, said on Wednesday that it had removed Ethereum from its marketplace. The firm highlighted difficulties with the integrity and honesty of the blockchain network as the reason for their decision. According to Ray Youssef, the CEO of the firm, the move to delist Ethereum would have an immediate impact on the platform.
Youssef humorously posted on Twitter:
“We finally kicked Ethereum off our marketplace. 11.60 million humans safer. Integrity over revenue. Who is next?”
He added:
“We need maximum momentum behind one clearing layer to win and Bitcoin is the only game in town. This isn’t an investment strategy, this is humanity rising up to liberate itself. ALL IN!”
According to him, proof-of-work is the invention that has made Bitcoin (BTC) the only honest money that exists, while proof-of-stake has effectively turned Ethereum into a digital version of fiat currency. ETH is controlled by a limited group of individuals, and he proceeded to say that one day users would be required to have authorization to use it.
In a statement, he said that Ethereum was responsible for the creation of fraudulent tokens that had cheated individuals out of billions of dollars. He also said that the ETH tokens had taken vital momentum away from Bitcoin.
As Vitalik Buterin forecasted prior to The Merge, the price of Ethereum (ETH) has not yet factored in the potential benefits of the network’s transition to a consensus based on proof of stake. According to the market aggregator CoinGecko, the price of ETH as of the time this article was written is $1,214, representing a gain of just 0.041% in the last twenty-four hours.
