Paxos Debuts Whitepaper - "How the Crypto Winter May Help Save the Digital Asset Economy"

News provided by

Apr 12, 2023, 09:21 ET

New report uncovers key attitudes in the crypto industry following the collapse of various market participants and broader market turbulence

NEW YORK, April 12, 2023 /PRNewswire/ -- Paxos, the regulated blockchain infrastructure platform, has launched its How the Crypto Winter May Help Save the Digital Asset Economy whitepaper. Bringing together insights from Paxos' leadership team and insiders from cryptocurrency market data provider Kaiko, How the Crypto Winter May Help Save the Digital Asset Economy provides a look under the hood of the crypto industry following historic disruptions at the close of 2022 and beginning of 2023.

Aiming to provide a holistic view of the past, present and future of the digital assets space following this turbulent period, How the Crypto Winter May Help Save the Digital Asset Economy delves into the years leading up to the crypto winter of 2022, the fallout from the high-profile collapses of FTX and Alameda Research and the resulting loss of $2.1 trillion in market cap. The whitepaper also examines key forward-looking topics such as the regulatory landscape, the crypto industry's operational path forward, how the industry can reestablish trust with consumers, VCs, institutional investors and more.

"The market upheaval of late 2022 and 2023 had far-reaching impacts on every corner of the global economy," said Michael Coscetta, Head of Revenue at Paxos. "More importantly, this turbulence spotlighted several key shortcomings and opportunities that the world economy must reckon with – particularly when it comes to how blockchain has been used and how it should be used at an enterprise level. With that in mind, we built this report to help enterprises better understand how they can deploy blockchain technology in smarter and more prudent ways to drive positive business outcomes."

Download your copy of How the Crypto Winter May Help Save the Digital Asset Economy from Paxos' website.

About Paxos

Paxos is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way.

Paxos uses technology to tokenize, custody, trade and settle assets. It builds enterprise blockchain solutions for institutions like PayPal, Interactive Brokers, Mastercard, MercadoLibre, Nubank, Bank of America, Credit Suisse and Societe Generale. Paxos is a top-funded fintech company with more than $540 million raised from leading investors including Oak HC/FT, Declaration Partners, Founders Fund, Mithril Capital and PayPal Ventures. With offices in New York, London and Singapore, Paxos takes a global approach to modernizing the financial system.

For more information on the survey or to get in touch with Paxos, reach out to [email protected] or visit paxos.com.

Contact:

Becky McClain
Director of Communications, Paxos
[email protected]

SOURCE Paxos