Paxful co-founder Ray Youssef, who previously resigned from the position of Paxful CEO, promised to put 99.9% of Paxful's personal shares, which accounted for more than 45% of the company, into a public trust fund to solve the problem of freezing user funds and ensure the reliability of Paxful wallets. Ray Youssef said that over the weekend, it unfrozen 88% of frozen user funds, and currently only about 3.3% of customer funds remain in Paxful wallets, totaling just under $4.5 million. After repaying Paxful users whose assets have been frozen, any remaining funds go directly to the Built With Bitcoin Foundation to build schools. With Ray Youssef and co-founder Artur Schaback at an impasse over the direction of the company, the parties have agreed that Srinivas Raju of law firm Richards, Layton & Finger (appointed by court order) will act as custodian for Paxful throughout the process . Srinivas Raju, who now has full power and control over the company's operations and management, will help stabilize Paxful over the next month while preparing to present Paxful's business proposal information to the courts.