Financial Industry News
Canadian law firm Miller Thomson has hired consultancy firm Kroll to perform blockchain analytics work in relation to the ongoing dissolution of QuadrigaCX, the exchange which failed last year after its CEO Gerald Cotten was reported to have died. The firm, which represents the now-former users of Quadriga pursuant to a court order, announced the […]
Continue ReadingFollowing last year’s QuadrigaCX collapse and loss of client funds, Canada’s crypto exchanges are going the extra mile to rebuild the trust of consumers. Announced Wednesday, Toronto-based Coinberry has acquired a financial institution bond, a requirement for registration with its provincial securities regulator, the Ontario Securities Commission. “Every Canadian crypto user remembers Quadriga and the […]
Continue ReadingIf deceased QuadrigaCX CEO Gerald Cotten’s untimely exit was meant to teach some twisted cosmic lesson in cryptocurrency estate planning, then the vast majority of crypto investors never showed up to class, according to a new study by the Cremation Institute. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for […]
Continue ReadingWith the price of BTC dropping more than 6% overnight, CoinDesk’s Markets Daily is back with your bitcoin news roundup. Today’s stories: The week-long calm in the bitcoin market ended with a sudden $800 price drop on Thursday. Here are three likely reasons why. The Ontario Securities Commission has published a scathing report calling now-defunct […]
Continue ReadingQuadrigaCX operated like a Ponzi scheme. That’s the key finding of an Ontario Securities Commission (OSC) report made public Thursday. OSC, one of Canada’s provincial securities regulators, said the now-defunct cryptocurrency exchange, which went into bankruptcy a few months after founder and CEO Gerald Cotten was reported to have died in India, “was an old-fashioned […]
Continue ReadingNearly 17,000 individual claims have been filed for the remaining assets of defunct crypto exchange QuadrigaCX, totaling anywhere from $167 million to more than $300 million depending on how the asset are valued. According to a document published Tuesday by Quadriga’s bankruptcy monitor, Ernst & Young, over the past year 16,959 proofs of claims have […]
Continue ReadingQuadrigaCX: You know the story. Dead CEO, $190 million of customer’s funds missing, mismanagement, conspiracy. But where are we now in terms of making crypto clients whole? Magdalena Gronowska, who’s a member of the Official Committee of Affected Users and the Bankruptcy Board of Inspectors, says as much as the nondisclosure agreements (NDA) will allow. […]
Continue ReadingLawyers representing the former users of the QuadrigaCX platform are doubling down on a formal request to exhume the exchange’s founder’s body. “Today, Representative Counsel issued a letter to the Honourable Bill Blair, Canadian Minister of Public Safety and Emergency Preparedness, requesting an update on whether the RCMP will conduct an exhumation and postmortem autopsy […]
Continue ReadingMiller Thomson, the court-appointed legal counsel for former users of the QuadrigaCX cryptocurrency exchange, is asking for help identifying any records related to Crypto Capital, which may be holding some of the exchange’s funds. In a letter emailed to the exchange’s former customers and posted to its website, Miller Thomson wrote that Crypto Capital Corp., […]
Continue ReadingAccording to an email sent to multiple users of the exchange and shared with CoinDesk, Valerie Gauthier, a victim specialist with the FBI, has been reaching out to former users of the exchange to alert them of a new portal containing information about the case, confirming that the investigation continues. “A criminal investigation can be […]
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