CryptoForDay

Your daily dose of crypto news

Giancarlo joins Paxos board

2 min read

Giancarlo joins Paxos board

J. Christopher Giancarlo, also known as ‘Crypto Dad,’ has joined the board of directors for crypto firm Paxos. Paxos made the announcement on May 14, stating that Giancarlo’s addition to the board is part of their efforts to expand in regulated crypto markets and innovate on stablecoins. Paxos is responsible for the creation of the U.S. dollar-pegged Pax Dollar (USDP) and also issued PayPal’s stablecoin.

Giancarlo expressed his enthusiasm for joining Paxos, stating that the company’s commitment to compliance and the building of a more efficient and inclusive financial system resonated deeply with him. He plans to leverage his expertise to guide Paxos as it continues to revolutionize traditional finance. Prior to joining the board of directors at Paxos, Giancarlo served as a commissioner at the United States Commodity Futures Trading Commission (CFTC) from 2013 to 2017 and as its chair from 2017 to 2019.

In addition to his involvement with Paxos, Giancarlo is also the founder of the Digital Dollar Project, which aims to establish a U.S. central bank digital currency. He currently serves as an advisory board member for the Chamber of Digital Commerce.

Paxos co-founder and CEO Charles Cascarilla praised Giancarlo’s contributions to the blockchain industry, stating that he has been at the forefront of advocating for blockchain technology to improve the infrastructure of the financial system.

It is worth noting that Paxos has received regulatory attention in the past. In 2023, the U.S. Securities and Exchange Commission issued a Wells notice to Paxos, warning of potential enforcement action related to the issuance of BUSD as an unregistered security. Similarly, New York’s Department of Financial Services targeted Paxos over their stablecoin, which led to the company’s announcement that they planned to stop minting the coins for Binance. Despite these challenges, Paxos continues to work towards the expansion of regulated crypto markets and the development of innovative stablecoins.

13 thoughts on “Giancarlo joins Paxos board

  1. Huge congratulations to J. Christopher Giancarlo for joining the board of directors at Paxos! His expertise and dedication will drive further innovation in the crypto industry. Exciting times ahead for regulated crypto markets!

  2. A big congratulations to J. Christopher Giancarlo for joining the board of directors at Paxos! 🎉 His commitment to a more efficient and inclusive financial system will be instrumental in driving Paxos’ success. 💪 Here’s to revolutionizing traditional finance!

  3. It’s great to see J. Christopher Giancarlo, aka ‘Crypto Dad,’ joining Paxos! His expertise and commitment to compliance will undoubtedly guide Paxos towards further success. Thrilled for the future of regulated crypto markets!

  4. J. Christopher Giancarlo joining Paxos is a testament to their commitment to revolutionizing traditional finance! His expertise and vision for an inclusive financial system will drive immense growth. Cheers to a bright future!

  5. Paxos just got a powerhouse on their team! J. Christopher Giancarlo’s involvement will accelerate their mission to build a more efficient financial system. Excited to witness the impact on the crypto industry!

  6. J. Christopher Giancarlo joining Paxos is fantastic news! With his experience at the United States CFTC, Paxos is bound to excel in regulated crypto markets. Together, they’ll transform traditional finance!

  7. Congratulations to Paxos for having J. Christopher Giancarlo on their board of directors! His expertise and passion for innovation will be instrumental in shaping the future of regulated crypto markets. Excited to see what they achieve together!

  8. Hats off to J. Christopher Giancarlo for joining Paxos! His dedication to compliance and an inclusive financial system will shape the future of finance. Excited for the innovations to come!

  9. Hats off to J. Christopher Giancarlo for joining Paxos! 🎉 His commitment to compliance and an inclusive financial system will take Paxos to new heights. 🌟 Wishing them all the success in their mission to revolutionize traditional finance!

Leave a Reply

Copyright © All rights reserved.