S16 E50: Ray Youssef on Why Paxful's Terminated

On October 1st 2025, Paxful announced the decision to "wind down operations" and blamed the "misconduct" of co-founder Ray Youssef for the company's trajectory. But Ray Youssef had already moved on since 2023, building NoOnes as a non-US entity which better serves the peer to peer needs of the Global South. In this episode, Ray explains what's going on and what he's planning to do next. Time stamps: 00:01:08 - Introducing Ray Youssef 00:01:15 - Discussion on Paxful Termination and NoOnes as a Better Alternative 00:01:29 - Ray Youssef Accused of Undermining Paxful 00:02:54 - Paxful Press Release on Winding Down Operations 00:03:31 - Ray Youssef's Response and Exit from Paxful 00:03:46 - Warnings About Paxful's 3,000 Bitcoin in Cold Storage 00:04:29 - American Regulations Impacting Paxful 00:05:15 - New Indian Team at Paxful 00:05:27 - BitGo as Former Custodian for Paxful 00:05:53 - Dormant Tax Introduced by Paxful (Taxful Pun) 00:08:36 - Ray Youssef's Beard and Hair Discussion 00:09:23 - Expulsion from Bitcoin Church and Fatwa by High Priests 00:10:07 - Bitcoin as Financial and Monetary System 00:10:44 - NoOnes Replacing Financial Pillar for Global South 00:10:49 - Economic Apartheid Concept 00:11:15 - Ray Youssef Homeless When Starting Paxful 00:11:20 - Ex-Co-Founder (Artur Schaback Implied) as Business Partner Warning 00:11:50 - Executive Team Letters Against Ex-Co-Founder 00:12:03 - Attempt to Shut Down Paxful and Handle 3,000 Bitcoin 00:12:47 - Lawsuit by Ex-Co-Founder on Martin Luther King Day 00:13:03 - Accusations and Projections by Ex-Co-Founder 00:13:27 - Fintech Company Without Engineers During Lawsuit 00:14:23 - Ex-Co-Founder Incompetent as CPO 00:15:05 - $1.6 Million from Ray Youssef to Unfreeze Funds 00:15:29 - Delaware Law Firm Handling Paxful 00:15:35 - New Indian CEO Removing Paxful from LinkedIn Bio 00:16:00 - Ray Narrative on BitcoinMagazine.com 00:16:17 - Ex-Co-Founder Raiding Estonian Office 00:18:32 - Kate Grazic Back for NoOnes Partner Program 00:18:57 - LocalBitcoins Traders at NoOnes 00:19:03 - Paxful Family Reunited at NoOnes 00:19:27 - NoOnes Structure Outside the West 00:21:07 - 3,000 Bitcoin Worth $360 Million 00:24:56 - Own Account Bitcoin Disappeared from Paxful 00:24:59 - Solana Contract Issue in January 00:25:04 - Nick Carter Calling Ray Youssef a Clown 00:25:11 - Ari David Paul Accusing Scamming with NoOnes 00:25:24 - Support for Gaza and Palestine 00:25:30 - Nick Carter and Ari David Paul as Zionists 00:26:19 - Hack During Hajj in Medina 00:27:34 - Solana Bug Leading to Hack 00:28:09 - Ray Youssef Driving a Mini Cooper 00:30:42 - Muy from Ghana as Top Advocate at NoOnes 00:33:07 - Victor Schauberger's Work on Water 00:35:43 - WeChat of the Global South (NoOnes Vision) 00:36:27 - Silk Road Comparison (Clean Version) 00:37:28 - CivKit Project 00:37:34 - Nicholas Gregory (CivKit Collaborator) 00:37:41 - Commerce Block 00:38:29 - DarkFi Project 00:38:34 - Amir Taaki (Narodism) as Original Bitcoin Developer 00:42:38 - Roger Ver Attacked by Trolls 00:44:21 - Michael Saylor Meeting 00:45:58 - Adam Back as Skinny Twerp 00:59:18 - Tokenization Experiments by Ray Youssef 01:04:09 - Shelby Cobra 3D-Printed Car Project 01:04:34 - Water Bottle Structuring Water (Victor Schauberger Inspired) 01:06:17 - Malcolm X, Muammar Gaddafi, African Heroes on Wall 01:18:06 - Bitcoin.com News 01:18:43 - Roger Ver Quoted 01:20:06 - Roger Ver as Hero 01:21:03 - Bitcoin Cash 01:23:00 - Lunar the Silver Star (Sega CD Game) 01:23:14 - Garsh Hellcream (Warcraft Reference) 01:24:37 - XMR Bazaar (Monero Marketplace) 01:25:32 - Layer 2 Labs (Drivechains) 01:26:05 - Zcash Sidechain 01:26:12 - Thunder (Big Block Bitcoin Sidechain) 01:27:25 - Citrea (ZK Rollup for Bitcoin) 01:32:57 - Litecoin and MWEB (Mimblewimble Extension Block) 01:33:10 - Bitcoin Cash 01:33:17 - Monero 01:34:12 - Age of Empires (Priest Rush Invented by Ray Youssef) 01:35:52 - Sandy Peterson (Age of Empires Designer) 01:36:06 - USA Stablecoin Act 01:37:02 - Monerotopia Event 01:37:39 - Vitalik Buterin (In Photo) 01:40:17 - Val Venis (WWE Wrestler) 01:41:10 - Taxes Abolished in New World 01:45:15 - Sideshift (Swap Platform)