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Paxful shutdown hits Nigeria harder than the rest of the world, here’s why

Published 04/05/2023, 07:30 AM
Updated 04/05/2023, 09:00 AM

The shutdown of the peer-to-peer (P2P) cryptocurrency marketplace Paxful has left its worldwide community searching for alternatives, but it appears to have significantly affected the Nigerian crypto community.

On April 4th, Paxful declared that it would halt its operations. The reason for this decision, according to the founder and CEO Ray Youssef’s blog, was due to “key staff departures” and the regulatory environment.

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