QuadrigaCX CEO to Use Own Funds to Pay Customers

This was stated by Gerald Cotten's widow Jennifer Robertson
14 March 2019   330

The deceased founder of the QuadrigaCX Canadian Bitcoin Exchange, Gerald Cotten, could use his own funds to pay customers. This was reported by his widow Jennifer Robertson, CoinDesk reports.

In 2018, the Canadian Imperial Bank of Commerce froze $ 28 million in fiat assets of the exchange, without being able to confirm their owner.

While I had no direct knowledge of how Gerry operated the business, he told me that he had been putting his own money back into QCX to fund user withdrawals in 2018 while the CIBC money remained frozen. I believe Gerry had the best interests of the business in mind, and cared for his customers.

Jennifer Robertson

Gerald Cotten's widow

It also became known that Stewart McKelvey will no longer represent the interests of the exchange because of the presence of a certain conflict of interests, the details of which, however, are not disclosed.

The exchange is still trying to restore access to users' funds for $ 190 million. Earlier it was reported court gave additional 45 days for the exchange to look for missing funds.

Bitfinex to Unveil Tokinex IEO Platform

Information on first campaign will be available this Thursday, May 23rd
21 May 2019   113

Bitfinex cryptocurrency exchange announced the launch of an IEO platform called Tokinex.

The Bitfinex blog reports that information on the first IEO on the new platform will appear already this Thursday, May 23rd. The very same initial exchange offer will take place on June 13.

What it means to be an exchange has evolved to become an entire ecosystem, not just limited to the remit of trading digital assets. We are proud to finally launch Tokinex and bring the opportunity for participation in quality token sales in a fair environment.

Bitfinex Team

To participate in IEO on Tokinex, users of the exchange will have to undergo KYC identification using the Blockpass mobile app. After that, investors will be able to transfer funds from the exchange to the account for the purchase of new coins on the eve of the tokensale.

According to The Block, Bitfinex plans to hold approximately two IEOs per month. In the commentary on the publication's tweet, the representatives of the exchange specified that the new platform would not charge for listing.

Earlier, Bitfinex managed to attract $ 1 billion in private IEO. The LEO token started trading yesterday, May 20.