Paxos says it is regulated by the New York Department of Financial Services. Paxos holds its money in a trust company, which is organized under New York banking law. It's actually safer than a bank because we don't make loans and all the assets just sit there and trust.
Bloomberg News White House Correspondent Jordan Fabian and Bloomberg Economics Chief Economist Tom Orlik discuss economic relations between the US and China and President Joe Biden blasting China’s economic problems as a “ticking time bomb.” Paxos CEO Charles Cascarilla talks about creating a stablecoin partnership with PayPal. Kathryn Minshew, CEO of The Muse, explains the trend of “Lazy Girl Jobs.” Bloomberg Businessweek Editor Joel Weber and Businessweek Special Projects Editor Reyhan Harmanci share stories from the Bloomberg Businessweek Out of Office Special Issue. And we Drive to the Close with Dana D’Auria, Co-CIO of Envestnet PMC.
Hosts: Carol Massar and Jess Menton. Producer: Paul Brennan.
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