Widow of QuadrigaCX’s founder Gerald Cotton, Jennifer Robertson will transfer more than $9 million in assets to EY Canada which is the bankruptcy trustee for the now-defunct crypto exchange. The announcement was made for our latest crypto news.
Robertson announced in a statement on Monday saying that after her husband’s death last year she made a lot of efforts to assist the recovery of the funds of the exchange that went missing. Robertson and other Quadriga-affiliated entities realized that they do not have the assets to the company’s cold wallets after the exchange got hacked and therefore were not able to access any of the funds that the exchange held. In the statement that Robertson made we can read that:
“I have now entered into a voluntary settlement agreement where the vast majority of my assets and all of the Estate’s assets are being returned to QCX to benefit the Affected Users. These assets originally came from QCX at the direction of Gerry.”
The settlement is still pending for approval from a judge. According to the new report by EY Canada, Roberston will be turning over all assets except for roughly $162,700 in personal assets including cash and retirement savings, jewelry and personal furnishings including some outstanding shares of Quadriga and affiliated entities. The previous report estimated that the total value of Cotten’s estate including $9 million in assets including luxury vehicles and a lot of properties in Nova Scotia. EY stated on for the Monday’s report that it intends to liquidate these assets for Quadriga’s stakeholders and the users who lost funds when the exchange got hacked.
The report noted that the settlement allowed the parties to avoid all of the unnecessary legal fees that would be incurred by litigation. As a part of the settlement, the widow of QuadrigaCX’s founder added she will no longer receive any payments under a previous court order and she said that she had ‘’no direct knowledge’’ of how the exchange operated and was unaware that Cotten had possibly scammed the clients and stole corporate founds:
“Specifically, I was not aware of nor participated in Gerry’s trading activities, nor his appropriation of the Affected User’s funds.’’
Robertson will provide a sworn statement with all of the assets detailing what she owns or owned in the past five years as a part of the agreement and we will read further in the blockchain news.
CommerceBlock ICO Review: Should You Invest In It?
Algorand Cemented Its Position As A Major Ethereum Challenger In 2020
“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains. Our latest collaboration with Algorand leverages the speed and security of Algorand’s protocol to give traders fast settlement and reduced counterparty risk in their fiat to digital asset transactions. Tether and Algorand both share a desire to keep building next-generation financial products and we feel our growing customer base will appreciate and benefit greatly from this collaboration.”Led by a Turing award winner named Silvio Micali, Algorand is a public, permissionless and proof-of-stake blockchain that is currently working on creating a borderless global economy. The inherent design and architecture is how Algorand cemented itself from the competition, easily conducting 1000 transactions per second and a block production time of 5 seconds per block. In comparison, the Ethereum latest news show that Ethereum manages less than 25 transactions per second and has a block production time of 15 seconds. All in all, Algorand is on a good way to provide a highly scalable platform for Tether to function at its maximum capacity. On the other hand, the network can leverage Tether's immense popularity to attract more users and institutions to its platform. This won't only increase the platform's usage - it will also bring in more developers and applications as well. While Algorand cements itself as a direct competitor to Ethereum, Tether (USDT) is also moving up and recently become the latest high profile project to collaborate with Algorand. The native token of Algorand, ALGO, has meanwhile been accepted on many major exchanges in the likes of Binance, CoinBasePRO, Huobi, Kraken and several others.
Rarible Blockchain Art Platform Sparks Fraud Discussions
HotBTC- New ICO Cryptocurrency Exchange Was Just Launched
“HotBTC has a dedicated focus on listing ICOs, making it a unique trading platform that will be welcomed by the crypto community all over the world. As an exchange, it also offers great features like lightning-fast trades, no hidden fees, and industry-standard security.’’Trading speeds at the newly launched HotBTC are extremely fast and the token prices get updated every 60 seconds. The users can build a new crypto portfolio with multiple layers of protection and can benefit from the account monitoring, wallet management and full authority on withdrawals and deposits. HotBTC has other amazing features such as profit sharing and has a 50 percent revenue sharing scheme on the profits with qualified users. The qualified traders can become partners and can even receive dividends in BTC. HotBTC has been launched recently and aims to fulfill the wishes and desires of the crypto community, traders, crypto project owners, ICO cryptocurrency ideas and anyone else that is interested in the great future of the cryptocurrencies.
Basic Attention Token Rises 11% After Perpetual Contract Launch
Binance Coin BNB Collapses 10% In 24-Hours: Analysis
Crypto Lawyers Fight Over Who Gets To Lead Tether’s Lawsuit
Monero VS Bitcoin: Is The Privacy Feature Enough?
Crypto Payment Platform AnyPay Won’t Accept BTC Anymore
Antminer E3 Stops ETC Mining While ETH Has 1 Month Left
This Coin Saw Major Growth But Has Strange Downside Potential
Tim Draper Left Stocks For Bitcoin 6 Months Ago
Binance UK News Show Buying BTC Is Now Easier Than Before
Litecoin Prints Many Buying Signals Which Could Prove Bullish
China Declares Bitcoin As Property! Central Banks Prefer Crypto? SONY “Contactless” Hardware Wallet
JPMorgan Predicts A 60% Recession, Is Crypto The Best Chance Now? | [Bitcoin News // Crypto News]
Ethereum Sees Record Number of Shorts! NEM Blockchain Hub | Samsung Blockchain Supply Logistics
Crypto Jobs Up 300%! Lost BTC 20% Rate of Recovery | Only 45% of Exchanges Meet Security Standards
DC Forecasts Proudly Backed The Global Disruptive Blockchain Innovation Summit
- Vechain News7 days ago
VeChain Announces Schedule And Election Of New Members
- Bitcoin News7 days ago
Bitcoin Just Signaled “Sell” While Falling To $9,600 Levels
- Libra News7 days ago
EU Does Not Know What To Do With Facebook’s Libra Coin
- Binance Coin News7 days ago
Binance Coin Declines To $22 After Bouncing Back
- Altcoin News7 days ago
Buy Top Products From Taiwanese Brands With Gifto (GTO)
- Blockchain News7 days ago
Algorand Cemented Its Position As A Major Ethereum Challenger In 2020
- Ethereum Classic News7 days ago
Ethereum Classic Is With Solid Fundamentals Despite Recent Losses
- Ripple News7 days ago
XRP FAQ: The 7 Most Common Questions Asked About Ripple