Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. Each and every one of our writers has an active tipping widget.
  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

QuadrigaCX Enters Bankruptcy Proceedings

written by

QuadrigaCX Enters Bankruptcy Proceedings

Support free journalists: > send a tip

Canadian Cryptocurrency firm QuadrigaCX filed its bankruptcy application in a Nova Scotia Court this week in a bid to bring the three-month saga to its next stage after claiming that the death of its CEO left a US 260 million debt.

This means that the court order giving the legal group Ernst and Young will come into action in an attempt to recoup the funds owed to 115,000 users who have been left with no access to their money, although this won’t be an easy process as the company was discovered to have no real assets.

After the death of 30-year-old CEO Gerald Cotten in India, it was revealed he was the only person who knew the encrypted passcodes needed to access USD 190 million in cryptocurrency locked in offline digital wallets.

The situation has been further confused as it is now known that the deceased mixed his personal and corporate finances and company funds had been used to buy assets which had no connection with Quadriga. The current court order prohibits Cotten’s widow Jennifer Robertson in accessing any Quadriga assets but she is allowed access to living expenses through two private bank accounts overseen by the court.

It is thought that a sum of about USD 70 million in cash is still owed to Quadriga clients although the funds are mostly in third-party accounts and payment processor banking. This adds to the complexity of finding a solution for the company’s former clients who continue to spread rumors on social media in the absence of any concrete information as to the whereabouts of their funds.


Follow on Twitter: @bitcoinnewscom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy:

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter