Tag: quadrigacx

QuadrigaCX Founder’s Widow to Hand Over $9 Million in Assets

  • After handing over most of her assets and all of the estate's assets, Jennifer Robertson will be left with $162,700 in personal assets.
  • She personally suggested the settlement after EY Canada released their fifth report, which revealed that her husband commingled client and corporate funds.

DoJ Indictment Reveals Two Exchanges Allegedly Used Shadow Banking Services

  • In a statement, United States Attorney’s Office for the Southern District of New York alleged that Reginald Fowler and Ravid Yosef took part in a scheme, which involved using bank accounts to move money into unnamed crypto exchanges.
  • The two allegedly worked for several interconnected firms that provided multiple cryptocurrency exchanges with fiat banking services.

Canadian Court has Given QuadrigaCX a 45-Day Extension

  • The stay of proceedings, which were granted to the troubled exchange last month, was extended by the Canadian judge Michael Wood, with the next hearing scheduled for April 18.
  • The report by EY, released on March 1, identified six crypto cold wallets that were used to store Bitcoin (BTC), the currency most used on the platform. Apart from the $500,000 worth of BTC that were sent accidentally in early February, the wallets were empty.

Canadian Securities Watchdog Says it Does Not Regulate Crypto Exchange QuadrigaCX

  • he troubled exchange remained unregulated, even though the BCSC was aware of it since 2017.
  • It is believed that around $190 million in both fiat and cryptocurrencies remain inaccessible by the exchange since its CEO and founder, Gerald Cotten, died in December.