QuadrigaCX CEO to Use Own Funds to Pay Customers

This was stated by Gerald Cotten's widow Jennifer Robertson
14 March 2019   478

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It also became known that Stewart McKelvey will no longer represent the interests of the exchange because of the presence of a certain conflict of interests, the details of which, however, are not disclosed.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

Fake Trading Share to Reach 68%, - FTX Global

This figure, however, is significantly lower than what Bitwise's report and the discrepancy is explained by the difference in methodology
04 July 2019   974

The exchange of derivatives FTX Global and Alameda Research conducted a study that estimated the volumes of fictitious transactions (wash trades), presumably prevailing in many cryptocurrency exchanges.

The report says that 68.6% of trading volumes displayed by CoinMarketCap are fake. This figure, however, is significantly lower than what Bitwise Asset Management announced in March.

The discrepancy between the results in almost 30% of the authors of the new study is explained by the difference in methodology. So, FTX Global is sure that Bitwise used an too strict approach to data analysis, which is why a significant proportion of real trading volumes fell into the category of fake ones.

While our methods are not foolproof, we believe they paint the most accurate picture of the true nature of cryptocurrency trading volume that anyone has made publicly available as of yet.
 

FTX Global Team

The Alameda methodology involves verifying the authenticity of data on trading volumes on various exchanges based on six different parameters, including manual verification of information and comparison of order books.

FTX Global Website
FTX Global Website

In particular, the experts found out that some sites provided data on the volumes of foreign exchanges for their own, with a slight delay in time. Other platforms used more advanced techniques - for example, they introduced large fake volumes only against the background of many smaller orders, thus trying to hide the true state of affairs.

The main purpose of these tactics is to raise the platform higher in the CoinMarketCap rating, creating a false impression of its liquidity. It also sometimes allows for the ability to charge a higher listing fee.