QuadrigaCX Can't Get Its $20M

Supreme Court of Ontario ruled in a favor of a bank, not biggest local cryptoexchange
15 November 2018   808

The Supreme Court of Ontario will deposit $ 19.6 million, located on five bank accounts of Canada's largest cryptocurrency exchange QuadrigaCX. This is stated in the court ruling and reported by the Cointelegraph.

These funds will be transferred to the Supreme Court of Ontario by the Canadian Imperial Bank of Commerce to establish their owners. For example, $ 19.6 million may belong to the QuadrigaCX exchange itself, on which its management insists that the payment operator Costodian servicing the site or 388 users who have placed these funds as deposits.

At the same time, Judge Glenn Haney was unable to determine the validity of the freezing of the accounts of the exchange by the CIBC within the framework of the proceedings.

Accordingly, it would be inappropriate for me to extinguish any liability that CIBC may have for freezing the accounts in the absence of an evidentiary record that establishes that CIBC has no liability.
 

Judge Hainey

Supreme Court of Ontario

In October it became known that QuadrigaCX was experiencing problems with withdrawing customer funds due to the blocking of accounts related to the Costodian Inc. service and its owner, Jose Reyes.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   404

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.