The fintech company, Paxos has announced that J. Christopher Giancarlo, former Chairman of the Commodity Futures Trading Commission (CFTC), will join its board of directors.
Charles Cascarilla, CEO and Co-Founder of Paxos, praised Giancarlo’s market expertise, saying, “Chris brings unparalleled expertise and understanding of complex market dynamics to Paxos.”
Giancarlo, who led the CFTC from March 2017 to April 2019, After departing the CFTC, Giancarlo engaged in fintech and cryptocurrency sectors, consulting on asset tokenization and distributed ledger technology at Digital Asset, serving on BlockFi’s board, and advising CoinFund.
Giancarlo’s appointment comes as Paxos faces regulatory scrutiny. In February 2023, the U.S. SEC warned Paxos of a potential lawsuit over its Binance USD (BUSD) stablecoin, leading the company to halt BUSD production.
Giancarlo’s addition to Paxos’ board brings valuable market insights amid regulatory challenges, bolstering the company’s position in the digital asset market.
Also Read: White House to Nominate CFTC’s Johnson for Treasury Role
