On June 17, 2022, Paxos CEO & Co-Founder Charles Cascarilla joined CNBC’s David Faber and Carl Quintanilla to break down crypto markets.
In just a month, we’ve seen digital asset markets shed significant value, but this period of “creative destruction” is not all bad. Opaque leverage is starting to unwind which will lead to more failures, but overall a strengthening of the well-positioned players. Charles shares how this dynamic is largely off-shore and how the regulatory framework in the US has protected many consumers from market contagion. Additionally, he noted that Paxos will continue to grow sustainably through this turmoil since we’ve always proactively sought out regulation and worked to build a safe, innovative platform for the most sophisticated companies around the world.