itBit
| Industry | Exchange |
| Founded | April 2012 |
| Defunct | mid-2026 (itBit trading platform retirement) |
| Founder(s) | Charles Cascarilla, Richmond Teo |
| Website | https://www.itbit.com |
itBit (later associated with Paxos) was a bitcoin exchange and New York limited purpose trust company. The itBit brand was folded into Paxos in 2016. The itBit trading venue was later retired, after which benchmark administrators removed it from CME CF constituent exchange lists.
History
itBit was founded in 2012. In May 2015 the New York Department of Financial Services granted itBit a charter as a limited purpose trust company, making it an early NYDFS-supervised virtual currency exchange trust. Contemporary coverage treated the charter as a first of its kind for a bitcoin exchange in New York.[1]
In September 2016 itBit rebranded as Paxos amid a broader blockchain and institutional pivot, while exchange activity continued under the evolving Paxos / itBit naming in market data contexts.[2]
Platform retirement and CME CF removal
CF Benchmarks announced that, following retirement of the itBit trading platform, itBit Paxos would be removed as a CME CF Constituent Exchange effective 27 August 2026. The same notice stated itBit Paxos had already been suspended from affected benchmarks since 27 July 2026.[3]
Paxos continued other regulated businesses after the itBit venue retirement. This page covers the historical itBit exchange brand and the later retirement of that trading platform.