CandleFocus Paxos CEO warns US could become ‘rust belt of finance,’ urges stablecoins
2024-10-29
Author: Content Editor
Paxos CEO Charles Cascarilla has written an open letter to Vice President Kamala Harris and former President Donald Trump, warning that the United States risks falling behind in global finance if it does not adopt stablecoin technology. Cascarilla highlighted the inefficiencies of traditional financial systems and the potential economic decline the US could face. He described stablecoins as a solution to these issues, as they enable faster and more accessible payments and can expand financial access for underserved populations. Stablecoins have gained traction and reached a market capitalization of nearly $170 billion in Q3 2024. However, Cascarilla noted that regulatory uncertainty in the US is hindering firms' ability to operate domestically, potentially leading to a loss of jobs, capital, and innovation to countries more supportive of blockchain technology.
Related News
Bitcoin could join Florida state pension funds under CFO’s proposal PEPE Price Shows Strength with Latest Surge, Eyes Further Gains Crypto turns green as Bitcoin flirts with $73k Market Signals Point to Potential Uptrend in SUI Price Ethereum Staking Rewards Declines 3%, Lagging Behind Other PoS Networks Crypto Influencer’s Account Compromised in Phishing Scam, Promoting Fake Airdrop Links Whales spent more than $70M in Polymarket bets on Trump’s victory Grayscale starts the clock on SEC decision to convert GDLC fund to an ETF Why is the Bitcoin Price Surging? Analyst Explains Three Reasons, Shares What to Expect Next How the XRP Ledger is Shaping New Wealth Creation Circle raises USDC cash-out fees, affecting large-scale redemptions Aptos (APT) Secures Support Zone, Signaling Potential Growth Bitcoin Recovery Sparks Hope For $73,811 Breakout, New All-Time High In Sight? Dogecoin Whale Snaps Up 178M DOGE, $0.2 Price Target Next? Bitcoin hits $73.6K as fundamentals suggest new all-time highs are programmed Breaking Bitcoin News: Bitcoin BREACHED ATH Price of $73805? Bitcoin nears all-time high with stable metrics, signaling strength for further upside – K33 Research Cardano to act as Bitcoin’s extension? New integration stirs mixed reactions NBA Topshot NFT sales hit six-month high as 2024 season tips off Maga (TRUMP) Bulls Reawaken Seven Days Before Election Bitcoin Dominance Hits 60% as BTC Price Hits $73K Bitcoin total value locked reaches record with adoption of new protocols Bitcoin miners cut costs, embrace AI post-halving: CoinShares Metis Establishes $250,000 Accelerator Program to Support Ecosystem Growth Solana price hits 3-month high as data hints at SOL rally above $200 Shiba Inu (SHIB) Market Cap Flips Avalanche After Breaching $0.000018 Avalanche Price: What Happens If Its Market Cap Hits Solana’s $85B? Can Bitcoin Reach New Heights Soon? Bitcoin Tops $73.5K, Climbing Just Shy of New Record High Filecoin's largest protocol Glif set to airdrop 100 million tokens DYdX Trading lays off 35% of its employees, including core team members $223 Million Worth of Shorts Annihilated as Bitcoin Eyes New ATH Bitcoin’s Open Interest Surges to $16 Billion as Price Nears All-Time High Bitcoin miners brace for earnings, analyst sees buying opportunity Hitachi Solutions introduces Web3 development for enterprises Pro XRP Lawyer Outlines Gary Gensler's Options If Donald Trump Win Toncoin poised to surpass Ethereum as TON gains 500K holders daily Theta Labs inks AI research deal with University of Oregon’s Distopia Lab President Biden Thanks Nigerian President for Binance Exec’s Release: White House This is why Dogecoin (DOGE) is surging Solana Meme Coin Market Cap Surges to $12.2 Billion, WIF Leads the Pack Bitcoin could hit $200,000 without dollar collapse – Bitwise CIO Bitcoin Flies Past $72,000, Triggering $265,270,000 in Liquidations As Top Traders Declare BTC Bull Market Back While the Great Surge in Bitcoin Continues, $1.4 Trillion Earthquake News from China Betting Markets: LA Dodgers Will Win—But Not Sweep—World Series VanEck begins SOL staking with Kiln partnership Billionaire Justin Sun Announces “Big News” as Cryptocurrency Market Surges Grayscale’s Bitcoin, Ether 'mini’ ETFs pulled $750M in first 3 months ? Bitcoin (BTC) Price Hits $100,000 in Canada MicroStrategy Surpasses $50B Market Cap, Just $3B from Coinbase DWF Labs partner allegedly caught trying to drug job applicant 3 Crypto Stocks to Watch Ahead of the 2025 Bull Run Coinbase Revenue May be Hurt by Lower Trading Volumes, Regulatory Uncertainty, Analysts Say Bitcoin UTXO Realized Price Crossover Signals Potential Mid-Term Price Rise Solana’s Market Capitalization Nears That of BNB as SOL Moves to Become Fourth-Largest Crypto Ethereum (ETH) Long-Term Holders Eye $3,000 Amid Growing Optimism Sports better Taylor Mathis faces crypto rug pull allegations BlackRock CEO Predicts Further Fed Rate Cuts Before Year-End Analysis Firm QCP Capital Shares What They Expect for Bitcoin (BTC) Price as US Elections Approach! Solana shows potential for a drop below $130 Crypto Ghosted in U.S. Treasury Department's New Strategy on Financial Inclusion Bitcoin Breaks $72,000, Boosting Altcoin Prices ? Bitcoin is just 2% away from breaking its all-time high 7 New Kraken Listings in 2024 – Latest Coins and Upcoming Listings Chainlink Expands Reach: Solana and Lido Benefit from New Integrations Bitcoin trader sees all-time high 'this week' as BTC price nears $73K SelfKey Launches Community Referendum on Potential Merger: Details WIF Price’s 55% Rally Dream Unbroken Thanks to Sharp Uptick in Inflows Five Things to Expect in Cardano's Upcoming Chang 2 Upgrade Ramp Network expands crypto-to-fiat support for real-time MXN payouts via SPEI Crypto PAC’s final media buys before US Election Day go to Wisconsin Brazil crypto imports surge 60.7% through September, exceeding 2023 total Satoshi Takeover Countdown: Here's When Bitcoin ETFs Will Hit One Million BTC Milestone Craig Wright lawsuit made 184 ‘twisted and incoherent’ claims, say analysts Fidelity Outshines BlackRock in Ethereum ETF Inflow BTC Price Surges to New Heights ? Solayer launches first-ever yield-bearing stablecoin backed by T-Bills on Solana Paxos CEO warns US could become ‘rust belt of finance,’ urges stablecoins FTX estate sues KuCoin to recover over $50M in assets Exclusive: io.net CEO Tory Green on scaling GPU power for the AI age BRETT Price Eyes Breakout: Analysts Predict Surge to $0.12 Bitcoin Bullish Setup Aims for $110K, but Must Hold Above This Key Level for Confirmation Inside Trust Wallet's 2024 Milestone: Recovering $1M in User Funds Solana Surges Past $180, Fueling Momentum for Celestia and Dogecoin Analysts Predict $20 as Toncoin Price Peak for This Bull Cycle Bitcoin is enjoying a small breakout, but election volatility still to come Forget polls — crypto-based opinion markets are the future of collective wisdom Tron Plans to Slash Fees by Half Through Proposal 95, Here’s Why Rising odds of Republican election sweep could pave way for crypto bills, analysts say Bitcoin indicators hint for an ‘incredible 12-month rally’ Crypto Stocks MicroStrategy, Coinbase and Marathon Post Just Modest Gains as Bitcoin Eyes Record High Polygon crawls back as Polymarket volume spikes FLOKI Price Consolidates Amid Downtrend, Analysts Eye Key Levels NEIRO & TURBO Prices Set 10% Recovery With Binance Copy Trading? Bitcoin Sets Largest Inverse H&S in History, Analyst Projects Imminent Breakout Decentralization Matters in Trading: The Orbs Approach AI predicts XRP price for year-end POPCAT Outperforms Top Meme Coins, Reaches New All-Time High BNB and SOL Price Prediction for October 29 Dmail and MintSwap Partner to Advance Web3 Engagement Bitcoin Holds $66K as Q3 GDP, Earnings, and Election Stir Crypto Market Brandt Insists Bitcoin Breakout Not Yet in, Sets Conditions for Real Breakout Hedge funds and crypto investing: Is there a more tailored approach? | Opinion Hex Trust Partners To Integrate Stacks For DeFi Apps Cumulative open interest on Polymarket’s US presidential election market quadruples to over $200 million as vote nears 39 Million SHIB in 24 Hours? Yet Shiba Inu Price Skyrockets 10% Optimism Foundation Agreed to Give Kraken $42.5M of OP Tokens in Layer-2 Deal MicroStrategy's Saylor Issues 'Bitcoin to the Moon' Post as Price Eyes ATH SUI gains as $3m in shorts liquidated, DEX volume enters top 10 Dogecoin (DOGE) on Verge of Banana Zone, Raoul Pal Predicts DOGE reaches 5-month highs amid high exchange inflows Elon Musk’s Reaction Triggered by Bitcoin El Salvador President: Details Galxe Partners with Zircuit to Pioneer AI-Driven Solutions in the L2 Space Bitcoin soars above $71k, crypto analyst predicts a new all- time high Elon Musk's Dogecoin Pump Boosts Other Meme Coins Amid Trump Rally Tour Investor Chris Burniske Says Bitcoin Could Print ‘One of Those Candles’ Next Month – Here’s What He Means Bitcoin's Rise Has Surpassed $70,000 Peak Solana Breaks Above $180, Flashes Early Signs of Successful Post-breakout Retest 21 Million Fashion Makes Bitcoin Clothes That Are Worth the Sats Cardano to Host Nintendo Emulator on Hydra, Expanding Blockchain Gaming Potential "A Million Dollar Bitcoin": Revisiting Keiser's Prediction XRP Price Ready for $20 as Analyst Predicts "BIG" Move Tokenized Assets on Track to Revolutionize Finance with $100B in Annual Returns Ripple CTO Highlights Record $1 Trillion U.S. Federal Interest Payments MicroStrategy Stock Hits Highest Level in 24 Years, Outperforms Bitcoin Binance Deposit Receives $150 Million in Ethereum: What's Happening? 'It's Okay Peter': John Lennon's Son Responds to Bitcoin Critic Schiff 4 Altcoins That Could Hit New All-Time Highs in November Aethir Partners with GMI Cloud and GAIB to Offer Advanced GPUs for AI Development SHIB Leaves AVAX Behind, Is ADA Next? Toncoin (TON) On Track to Overtake Ethereum in User Base by Year-End Bybit brings its Bybit Card to new regions Bitcoin Price Eruption to Lead Toward $84,200, Says Top Analyst Bitcoin’s Surge Leaves South Korea Behind: Kimchi Premium Fades Dogecoin Hits 15% Gains, Eyes New 52-Week High Above $0.22 Binance Unveils 'Binance Wealth' for Elite Customers 3 Dogecoin Rivals To Buy After Elon’s $2T D.O.G.E Savings Claim Cardano’s (ADA) Path to $5: Strong Support Levels Hold the Key Bitcoin Price hits $71,000, Will It Keep Rising? “Just Relax”: Expert Says Nothing Changed for XRP, Big Reckoning Expected Soon Real Bitcoin Action Has Not Even Started Yet: Samson Mow Ethereum community doesn't need to 'justify the inadequacies of the present' when building the future, Vitalik Buterin says Consensys to cut workforce by 20% — CEO outlines decentralization plans Stacks, Prominent Bitcoin Layer-2 Project, Activates Long-Awaited 'Nakamoto' Upgrade Popcat hits new ATH, leads Solana meme coin rally 'We Are Building Future': Vitalik Buterin Debunks Ethereum FUD Bitcoin influencer calls Cardano’s BTC L2 solution a scam — Is it really? Transak sees 300% month-over-month growth in Sui Wallet XRP Community Gets Crucial Warning, What It Pertains To 99% of Bitcoin Holders Become Profitable as BTC Nears All-Time High South Korea-Based Bithumb Exchange Announces Listing of These Altcoins in Spot Trading! Massive Bitcoin Volatility Imminent as U.S. Presidential Election Draws Near: Bitfinex Bitmain Clarifies Focus on Mining, Refutes Investigation Claims 10 iconic crypto history videos you won’t believe actually happened Is Bitcoin to $100,000 now a guarantee? ? Here’s Three Reasons Why Bitcoin Futures Set Record Highs Amid Price Surge to $71K Bitcoin (BTC) Reaches New Peaks, But Liquidation Threats Emerge Bhutan gov’t sells $66M of Bitcoin stash as price tops $71K Gemini crypto exchange receives preliminary approval in Singapore Legion launches merit-based platform for ICOs in Europe Bitcoin price prediction for U.S. election 2024: Finance experts' forecast Evmos pays $150K for critical bug found in Cosmos documentation XRP Scan Seeks Moment of Silence For This Hefty Token Burn Saylor's MicroStrategy up 3.8% on Premarket as Bitcoin Hits 5-Month High Solana (SOL) $180 Breakthrough Comes With a Big Warning ECB and EU governments reportedly clash over digital euro regulation Cardano Follows a Similar Pattern to 2020; Analyst Expects ADA to Pump – Here's When Litecoin: Dominating the Crypto Payments Scene with Speed and Security Solana Price Targets $200 as Bulls Gain Momentum: Time to Buy SOL? Bitcoin Price Eyes ATH as Dogecoin (DOGE) Skyrockets 15% Daily: Market Watch Singapore’s Temasek: Trump would not be good for world economy, financial markets CHART: Crypto election markets and polls show very different odds 'Rich Dad Poor Dad' Author Kiyosaki Gives Lesson on Money as Bitcoin Teases All-Time High Bitcoin open interest nears $23B as analyst warns of BTC price euphoria DOGE, ENA, POPCAT, BSV surge double-digits as BTC surpasses $71K and hits new ATH Bitcoin Targets New All-Time High at $84,929 as Bulls Push Above $71,000 Persistence One and Merlin Layer 2 Unite to Boost Bitcoin’s Scalability with Advanced ZK-Rollups IOTA Set to Join Multi-Collateral Stablecoin in DeFi Push – What It Means for Holders Xandeum confirms the October 29 XAND token launch and xandSOL liquid staking Expert Names Altcoins Better Than Shiba Inu, XRP, and Dogecoin DeFi Cover Provider Nexus Mutual Backs New Crypto Insurance Broker Native Binance's CZ Is 16th on Hurun Rich List With 135 Billion Yuan Pundit Discusses Ripple and XRP Roles in $27 Trillion Cross-Border Payments Market Vitalik Buterin Eyes Fresh Ethereum Bull Run With New Network Update OKX Chooses Standard Chartered as Custodian for Institutional Crypto Services ARK Invest sells $31M in shares of Jack Dorsey’s Block Free airdrop or investment? SEC’s argument faces legal heat FET Price Eyes Recovery Following CUDOS Integration With ASI Dogecoin Bets Spike to $1.3B as Trump Popularity Sees DOGE Rocket 15% After Soaring 20%, Is Sui Price Ready to Hit $5 By December? Three Satoshi-Era Bitcoin Wallets Awaken As BTC Eyes New All-Time High Bitcoin’s path to $80,000 fueled by bullish derivatives trends How High Can Solana Price Go in November Bull Run? BIS mulls ending mBridge pilot touted by Putin as dollar alternative: report Shiba Inu Blockchain Shibarium Welcomes NFT Bridge Feature Top Solana airdrops in 2024 DOGE Ups 16% as Golden Cross and Celebrity Hype Ignite Rally Canadians wary of adopting digital dollar, Bank of Canada finds Bitcoin bulls charge toward $72K as analysts set 6-figure BTC price targets Shiba Inu (SHIB) Makes Four Trillion Comeback in 24 Hours: What's Happening? Crypto.com Overtakes Coinbase to Dominate North American Crypto Trading, Data Shows Circle and HKT Sign MOU to Explore Developing Blockchain Loyalty Programs in Hong Kong Fetch AI Completes Network Upgrade , Can FET Price Reach $13? XRP Price To Rally As Whales Move $51M? Arthur Hayes says China’s QE and stimulus will be really good for Bitcoin After the Election, US Congress Will Gather for Cryptocurrencies – Here’s All You Need to Know Analyst Says Much Hate for Cardano Analysts, but $5 is Next Target Crypto Trader Makes $440K from Just $9.6K in Ten Days via High-Risk Meme Tokens TRON’s Large Transaction Volume Hits 2-Month High: Is TRX on the Rise? Jito (Re)staking to Open for Deposits on October 31 Bitcoin Could Witness a Capitulation Event Before Soaring Higher Next Year, According to Analyst – Here’s Why Dogwifhat’s Trendline Retest: Will WIF Climb to Fresh Peaks? Crypto Analyst Predicts Final SEI Drop Before 2025 Bull Market Surge Ethereum (ETH) Rally Intensifies as Bulls Set Sights on $3K Here’s Who is Driving the Bitcoin Rally Past $71,000 Today Bitlayer to Integrate Chainlink’s CCIP BSV surpasses $52 as open interest, trading volume skyrocket Hong Kong’s ZA Bank begins sandbox pilot of crypto trading service US spot bitcoin ETFs saw $479 million in net inflows yesterday, highest in two weeks XRP Price Fights to Build Momentum While Bitcoin and ETH Surge Ethereum Price Follows Bitcoin’s Rally, But Momentum Falls Short ‘The Splurge’ to seek better cryptography to prepare for quantum computers: Buterin Solana (SOL) Aims for $200 Retest: Is Momentum Building? Dogecoin Price Jumps 14% After Elon Musk’s Comment, Nears $0.20 Hacker exploits Truth Terminal founder’s X account, nets $600K by promoting a scam token Coinbase CEO: Next SEC Chair Should Apologize to Crypto Industry Brandt Identifies 3 Bullish Bitcoin Targets as BTC Hits 4-Month Peak Above $71K XRP Bulls Hold the Line at $0.50, Target Breakout Above Moving Averages Bitcoin Cash Price Forecast: Technical and on-chain metrics suggest a rally ahead What Does Aptos (APT) Integration of USDT Mean for Price Growth? Researchers claim computational model can mimic human cognition As Hong Kong Firms Downsize, Animoca Built a Workspace the Size of 10 Tennis Courts Shiba Inu Price Eyes 300% Surge As Analyst Warns '80%+ Drops Are Behind Us' SlowMist: 1.67 Million EIGENS Theft Due To External Attacks This Altcoin’s User Count Will Surpass Ethereum’s in Two Months Magic Eden to Trial ME Token and Its Asking Users Not to Trade It Maker (MKR) Price Predicted to Hit $3000? FTT plunges as FTX reaches $228 million cash settlement with Bybit Support for Binance Shentu (CTK) Network Upgrade and Hard Fork! Ethereum Withdrawals Surge as Investors Pull $750 Million from Exchanges Bitcoin’s $70K push sees $1.94B OI surge, rebounding from last week’s Tether FUD 14 Million ETH and Counting: The Growing Influence of Ethereum Liquid Staking Giants Norway’s Central Bank Poised to Make Digital Currency Decision in 2025 Bitcoin Inches Closer to Record Highs—Are Traders Ready for What’s Coming? Bitcoin's Ideal Leader: 100K Votes Flood Michael Saylor's Poll, Backing Future BTC Champion Expert Predicts XRP Price for 2025 if Solana Touches $600 AVNU Integrates Oracle Pools of Ekubo Protocol to Improve On-Chain Price Accuracy Tether CEO Breaks Down Reserves Backing USDT Stablecoin Data Analysis Firm Discusses How Shiba Inu Could Reach $0.01 Bitcoin Nears ATH After Crossing $71K; DOGE, POPCAT, Surges Ripple Vs SEC Lawsuit: Brad Garlinghouse, Chris Larsen Hire Key Lawyers Bitcoin headed for ‘perfect storm’ to new all-time high — Bitfinex Bitcoin spikes to $71,500, 4% away from all-time high Vitalik Buterin Outlines Ethereum’s EVM Plans in The Splurge Ethereum is ‘cooked’? Bold claim sparks debate across crypto X US Election Fuels Bitcoin Volatility as Options Traders Eye $80,000 Target Elon Musk’s DOGE to Slash $2 Trillion From Government Budget — 'The Future Is Going to Be Amazing' XRP Whale Moves 100M Tokens, What's Next for XRP Price? Metaplanet’s Bitcoin Holdings Surpass 1,000 BTC After Latest Purchase Bitcoin expected to face high volatility as 'Trump trade' and Q4 seasonality converge – Bitfinex Sequoia to make $100M windfall from Stripe’s Bridge acquisition: Report Donald Trump's World Liberty Crypto Project Eyes Stablecoin Launch Whale accumulates MATIC despite price making new lows on delistings What will happen to the meme coin market if Trump wins the presidential election? XRP After This Price Move: Something Is Happening, Enormous Dogecoin's (DOGE) Peak Reached? Ethereum (ETH) Bottomed Out? Unusual Price Movement Peter Schiff Compares MicroStrategy To Gold Stocks As MSTR Hits New Highs Ethena Labs Under Fire For Alleged Funds Misuse, ENA Price Crashes 6% Analyst Provides Timeline For When Shiba Inu Price Will Reach ATH Can Binance Coin Price Reach $720 If It Mirrors Its June Rally?