---
title: "Virtual currency can change financial services: itBit CEO"
description: "Virtual currency can change financial services: itBit CEO"
image: https://insights.paxos.com/hubfs/_Press-External_Website_Logos/Cnbc_logo-6.jpg
---

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May 7 2015 [![Cnbc_logo-6.jpg](https://insights.paxos.com/hs-fs/hubfs/_Press-External_Website_Logos/Cnbc_logo-6.jpg?width=2500&name=Cnbc_logo-6.jpg "Cnbc_logo-6.jpg")](http://video.cnbc.com/gallery/?video=3000377605) http://video.cnbc.com/gallery/?video=3000377605

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## Virtual currency can change financial services: itBit CEO

### Location

VIDEO: New York has issued its first charter to global digital currency exchange itBit. Chad Cascarilla, itBit CEO, discusses if now is the right time to bet on bitcoin. 

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Bitcoin trading involves a high degree of risk. The bitcoin market is new and unproven and may not grow. Currently, there is relatively small use of bitcoin in the retail and commercial marketplace in comparison to relatively large use by speculators, thus contributing to price volatility that could adversely affect an investment in bitcoin. In order to participate in the trading of bitcoin, you should be capable of evaluating the merits and risks of the investment and be able to bear the economic risk of losing your entire investment. No material at this site should be considered as an offer by itBit to sell or solicitation by itBit of any offer to buy bitcoin.