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Roshan Dharia to be Paxful’s Interim CEO Amid Companys Revival

Roshan Dharia to be Paxful’s Interim CEO Amid Companys Revival WikiBit 2023-06-02 08:04

On May 30, in an announcement, Paxful announced Roshan Dharia as their interim CEO. Roshan Dharia’s aim while acting as the CEO would be to strengthen

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Roshan Dharia to be Paxful‘s Interim CEO Amid Company’s Revival

34 mins ago

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On May 30, in an announcement, Paxful announced Roshan Dharia as their interim CEO. Roshan Dharias aim while acting as the CEO would be to strengthen operations and explore strategic alternatives.

In a statement issued by Roshan, he stated that hes honored to be the CEO of Paxful as he looks to start the work as soon as possible and build on the innovative technology developed by the Paxful team.

Roshan Dharia was previously a senior executive at TrustToken handling the DeFi lending business. TrustToken also known as TrueUSD is the 5th largest stablecoin in the market in terms of market cap.

Paxful and Former CEO Youssef

Although Paxful introducing Roshan wasn‘t a move that was liked by everyone. Youssef, Paxful’s former CEO sarcastically wrote in a tweet saying since Paxful hired a DeFi CEO they should expect a token soon as well. He further added that he has no business in Paxfuls decision and users who are facing problems can take it to Roshan personally.

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

Youssef allegedly shut down Paxful on his own accord when it halted services on April 4. After halting services, Youssef stepped down from his position and declared his funds as a public trust.

After the unannounced halt in services, the company restored its services on May 8.

Who is Roshan Dharia?

Before joining Paxful Roshan was a senior executive at TristToken which is currently known as Archblock. Roshan at TrustToken led DeFi institutional lending business where he credited more than $1.5 billion in stablecoin to crypto-centric companies.

Before joining TrustToken, Roshan founded PTHL Affiliates which is an investment platform. His company used to deal with distressed private companies going through acquisitions and restructurings.

Roshn Dharia is a well-experienced senior executive who has been both an investor and investment banker with billing experience of over $30 billion. He has transactional experience across financing, company restructurings, mergers, and acquisitions.

One of his special characteristics is that he is highly skilled at navigating special situations with high-risk profiles and significant intrinsic value.

Custodian of Paxful, Srinivas Raju stated that he‘s delighted about Roshan’s joining and said that Roshan will take over the day-to-day management of the company. He further added that hes very confident in Roshan and his leadership and that the business will keep building.

What is Paxful?

Paxful is a decentralized platform but it isn‘t a decentralized exchange. The users of Paxful trade fiat currencies for cryptocurrencies or vice versa. The trading on the platform takes place between the buyer and the seller and there’s no interference from any third party.

One of the best features of the platform is that it has a system that ensures that nobody is on the platform and commits fraud against any user.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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