Ray Youssef, founder of Paxful, a peer-to-peer Bitcoin marketplace, recently took to Twitter to announce that he will not be adding three popular cryptocurrencies — Litecoin (LTC), Cardano (ADA) and Monero (XMR) — to his platform.
In the first tweet, Youssef laid out his rationale for rejecting these coins. "We have bitcoin and stables, to add the rest would be uncivilized," he explained.
After receiving some pushback from people who were surprised he grouped Monero, a popular privacy coin, into the same list as Litecoin and Cardano, Youssef backpedaled in a later tweet. "I apologize for putting Monero in the same breath as Litecoin and Cardano," he said. "Still won't add it to a US company but should have replaced with XRP instead."
cardYoussef also made it clear that regardless of the outcome of any litigation between Ripple, a blockchain company linked to the XRP cryptocurrency, and the U.S. Securities and Exchange Commission (SEC), Paxful will still not add XRP to the list of available cryptocurrencies. "Don't care what the XRP litigation result is," tweeted Youssef.
Youssef still praised Ripple's efforts to develop use cases for business-to-business remittances.
The crypto entrepreneur then shifted focus toward those calling him a hypocrite for removing Ethereum while supporting stablecoins. He adds that his critics "are living in a smarmy tech bubble." He added, "Your tech and technicalities mean nothing," he added.
Dan Burgin
Vladislav Sopov