1. Paxful is a bitcoin marketplace founded in 2015 that quickly grew to have more than 200 employees.
2. Behind the scenes, there were reports of paid trips to music festivals, feuding founders, and erratic dismissals.
3. In 2016, three men associated with the company were arrested for improper exhibition of a firearm and possession of drugs in an upscale area of Miami Beach.
Founded in 2015, Paxful became one of the most popular places to buy bitcoin in Africa and other emerging markets, with over 200 employees at its peak. However, behind the scenes staff took paid trips to music festivals, bosses fought, dismissals occurred on a whim, and the smell of cannabis permeated the office. In September 2016 three men associated with Paxful were arrested in Miami Beach for improper exhibition of a firearm and possession of drugs.
The Rise Of Paxful
Paxful was founded in 2015 as a place to buy bitcoin in Africa and other emerging markets quickly becoming one of the most popular exchanges globally with over 200 employees at its peak. Employees reported taking paid trips to music festivals and working environments permeated by cannabis smell as well as frequent feuds between founders which led to erratic dismissals when things got out of hand..
Arrests in Miami Beach
In September 2016 three men associated with Paxful were arrested by police after pedestrians spotted two men on the penthouse balcony aiming an AR-15 style assault rifle towards streets below while apparently posing for photos. All three were charged with offenses ranging from improper exhibition of a firearm to possession cocaine and hashish but all charges were eventually dismissed without judicial resolution or admission or guilt by any party involved according to court records..
Reactions from Key Figures
Following news about arrests key figures within organization including COO Artur Schaback issued statements distancing themselves from those involved saying “none are currently employed” by Paxful but did not provide further clarification about circumstances leading up incident or any comment related directly to incident itself beyond statement made online..
Events surrounding arrests remain largely unclear due lack clear facts surrounding situation but paint somewhat unflattering picture regarding culture within organization that had grown rapidly during short period time prior incident occurring raising questions about practices adopted across wider industry during Bitcoin’s early days..