Episode notes
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)
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)
