Company Directory - Paxos Trust Company
Company Details - Paxos Trust Company
Paxos Trust Company
WebsiteNew York, USA
Paxos Trust Company is a financial technology firm that provides blockchain solutions and trust services, including cryptocurrency trading. It offers regulated digital asset solutions for institutional and individual clients, aiming to bring greater efficiency and security to modern financial systems.
CCI Score
CCI Score: Paxos Trust Company
-14.64
0.01%
Latest Event
Paxos Trust Company Enables Secure Crypto Trading
Paxos Trust Company is noted for its role in facilitating the trading of popular cryptocurrencies, such as Solana, on Interactive Brokers' platform. This involvement underscores its commitment to regulated digital asset solutions that enhance both transparency and security in financial transactions.
Take Action
So what can you do? It's time to make tough choices. Where will you cast your vote?
- Shop Alternatives
SEE ALL - Use Your Voice
OTHER TOOLS - Investigate
- Share the Score
SUPPORT CCI
ENABLER
Paxos Trust Company is currently rated as an Enabler.
Latest Events
- MAR262025
Paxos Trust Company is noted for its role in facilitating the trading of popular cryptocurrencies, such as Solana, on Interactive Brokers' platform. This involvement underscores its commitment to regulated digital asset solutions that enhance both transparency and security in financial transactions.
- FEB062025
In the 2024 election cycle, Paxos Trust Company was reported to have contributed $359,900 and spent approximately $230,000 on lobbying efforts. Additionally, a significant portion of its lobbyists have previously held government positions, highlighting potential revolving door dynamics that may influence democratic processes.
-50
Political Contributions and Lobbying Efforts
March 26
Paxos Trust Co's political contributions of $359,900 combined with $230,000 in lobbying expenditures indicate significant financial engagement in shaping political outcomes. This financial involvement, especially in an era of growing authoritarian tendencies, raises concerns about corporate influence over democratic norms and policy-making.
-45
Executive Political Engagement
March 26
The profile reveals that 7 out of 9 lobbyists in 2023 and 4 out of 7 in 2024 having previously held government positions points to a revolving door phenomenon. This overlap between governmental roles and corporate lobbying raises issues regarding conflicts of interest and the potential undermining of democratic accountability.
- DEC312024
Paxos Trust Company spent $110,000 on lobbying in 2024, a move that raises concerns over its attempt to influence political decision-making. This activity, while aimed at securing favorable regulatory conditions, risks aligning corporate interests with authoritarian policies and undermining democratic accountability.
-30
Political Contributions and Lobbying Efforts
March 26
The reported spending of $110,000 on lobbying in 2024 by Paxos Trust Company indicates active political engagement aimed at influencing policy in ways that may prioritize corporate interests over the public good. From an anti-fascist perspective, such actions can be seen as bolstering authoritarian practices by subverting democratic processes. This rating reflects significant concern regarding the company's use of political influence.
- OCT302024
Paxos CEO Charles Cascarilla issued an open letter to political leaders including Vice President Kamala Harris and former President Donald Trump, urging regulatory reform for digital assets to modernize financial systems and prevent the loss of US financial leadership. This public political engagement reflects a corporate push to influence policy in favor of deregulation, which may undermine democratic oversight.
-35
Executive Political Engagement
March 26
Paxos CEO Charles Cascarilla's open letter is a clear instance of executive political engagement. By appealing directly to political leaders for crypto regulatory reforms, the company is engaging in a corporate political strategy that prioritizes deregulation and corporate interests over robust democratic oversight. This move could potentially weaken public accountability and strengthen corporate influence in policymaking, a shift that is concerning from an anti-fascism perspective.
Paxos CEO warns US risks losing financial leadership without crypto reform
- OCT292024
Paxos Trust Company's CEO, Charles Cascarilla, sent a letter to both Donald Trump and Kamala Harris urging for clearly defined US stablecoin rules. The call aims to prevent digital dollars from moving offshore, thereby safeguarding national security and economic competitiveness, while also revealing a proactive use of corporate influence in shaping financial regulations.
+10
Executive Political Engagement
March 26
The CEO's public engagement in advocating for bipartisan stablecoin regulation demonstrates active executive political involvement. While the pursuit of clear regulatory frameworks can promote economic stability and national security, it also exemplifies corporate influence in policymaking. From an anti-fascist perspective, such corporate lobbying—regardless of bipartisan intentions—raises concerns about undue influence over democratic processes.
Paxos CEO Asks Trump, Harris for 'Clearly Defined' US Stablecoin Rules
- JUL092024
The SEC's decision to drop its enforcement action against Paxos over its BUSD stablecoin highlights potential regulatory capture and corporate influence that can undermine regulatory oversight. Viewed from an anti-fascist perspective, this regulatory leniency raises concerns about the alignment of state power with corporate interests.
-20
Public and Political Behavior
March 26
The dropped enforcement action suggests that Paxos benefited from a regulatory stance that may reflect undue corporate influence over the SEC, undermining accountability and consumer protection. From an anti-fascist viewpoint, such cooperation between corporate interests and state regulators is concerning as it may contribute to a broader erosion of democratic oversight.
-10
Economic and Structural Influence
March 26
The regulatory decision also raises concerns related to economic and structural influence, suggesting that Paxos may be benefiting from a relaxed oversight environment. Such regulatory capture can facilitate corporate maneuvers that ultimately undermine economic accountability and democratic principles.
- JUN172024
Paxos Trust Company laid off 65 employees—about 20% of its workforce—as part of a strategic shift toward tokenization and stablecoins. While the firm provided severance packages, extended health insurance and support for affected workers, the decision raises concerns over its commitment to ethical business practices and fair labor treatment from an anti‐fascist perspective.
-20
Business Practices and Ethical Responsibility
March 26
The decision to lay off 65 employees to reorient corporate focus toward tokenization and stablecoins indicates a cost-cutting move that, despite mitigating measures like severance and benefits, reflects a prioritization of profit over workforce stability. From an anti-fascist and worker rights perspective, such actions contribute to the erosion of ethical business practices and corporate responsibility.
-15
Labor Relations and Human Rights Practices
March 26
The reduction of the workforce by nearly 20% raises concerns over labor relations and worker rights. Although the company offered severance and additional support measures, such a significant layoff can undermine confidence in fair labor practices and worker security, aligning with broader trends of corporate decisions that negatively impact labor standards.
- JAN012024
Assessment of Paxos Trust Company's lobbying profile reveals potential concerns regarding its political influence. While the company has not reported lobbying on specific bills in 2024, its registration and activity as recorded by OpenSecrets indicate involvement in lobbying efforts that could contribute to undue political influence, thereby raising questions about its commitment to democratic transparency.
-20
Political Contributions and Lobbying Efforts
March 26
Paxos Trust Company's lobbying profile, as detailed by OpenSecrets, indicates the firm is involved in political lobbying. Despite reporting limited activity on specific bills in 2024, the mere engagement in lobbying raises concerns about potential efforts to influence policy decisions that could favor corporate interests over democratic norms. From a left-leaning perspective, this involvement is assessed negatively as it could contribute to the broader trend of corporate complicity in undermining democratic processes.
- JAN012022
Since early 2022, Paxos allocated approximately $300,000 towards lobbying efforts aimed at shaping stablecoin legislation in the US. This activity raises concerns about the influence of corporate money on regulatory processes, potentially undermining democratic oversight and facilitating self-serving policy decisions that benefit the crypto industry.
-40
Political Contributions and Lobbying Efforts
March 26
Paxos's lobbying expenditure of around $300,000 directed at influencing stablecoin legislation is indicative of efforts to sway regulatory frameworks in favor of industry interests. This use of influential financial resources to shape policy can be viewed as complicity in undermining transparent democratic processes and enabling corporate interference in governance.
Alternatives
Cayman Islands
-42.79
Detroit, USA
64.59
San Francisco, United States
23.32
Purchase, United States
0.91
New York City, United States
-8.25
Palo Alto, United States
-24.83
Seoul, South Korea
-44.68
Corporation
12.99
.png){kind=logo}
Corporation
0.92
Corporation
-13.33
Industries
- 522320
- Financial Transactions Processing, Reserve, and Clearinghouse Activities
- 523210
- Securities and Commodity Exchanges
- 541511
- Custom Computer Programming Services