Halifax Traders

18 Feb 19
Global News

The Nova Scotia Supreme Court granted QuadrigaCX temporary protection from its creditors on Feb. 5. A court-appointed monitor is searching for the missing money. The company could be sold.

19 Feb 19
Vancouver Sun

“We lost it all in 2018 because of the crypto crash. I know a few people who got out at the right time, but that wasn’t me.”

18 Feb 19
Archy Worldys

Source image Facebook / Quadriga Image caption Gerald Coutin When Gerald Coutin, the founder of the suddenly encrypted Canadian currency, died, he took with him all the secrets of Quadriga, which launched and managed the currency, which has a total turnover of $ 135 million. The founder of the currency has left tens of thousands […]

18 Feb 19
Archy news nety

Source image Facebook / Quadriga Caption image Gerald Coutin When suddenly Gerald Coutin, founder of the Canadian digital currency company Quadrange, died, he was buried with the key to $ 180 million ($ 135 million) of digital currency. The founder of this 30-year-old company has left tens of thousands of customers at a loss for […]

15 Feb 19
Bitcoin Bolt

No Money Left, QuadrigaCX Tells Creditors At Supreme Court Hearing

The Nova Scotia Supreme Court hearing has heard QuadrigaCX creditors pleas for reimbursement of funds following the death of the exchange’s founder, but the coffers are reportedly empty. The Halifax courtroom was told that the USD 70 million in cash and USD 190 million in Bitcoins and other digital assets could not be repaid to …

The post No Money Left, QuadrigaCX Tells Creditors At Supreme Court Hearing appeared first on BitcoinNews.com.

14 Feb 19
Global News

The Nova Scotia Supreme Court has been asked to determine which law firms will represent 115,000 QuadrigaCX clients, who are owed as much as $260 million in cash and cryptocurrency.

14 Feb 19
It’s become trite to say that while cryptocurrencies are a fad, blockchain technology is here to stay. I’ve heard this so much, though, I’m starting to believe it. I’m not counting out crypto—there are reasons to believe that the revolution is just beginning. But now that we’re in the depths of the crypto winter, with bitcoin down by 80% from its 2017 peak, the enduring interest in blockchain becomes more meaningful. Speaking of winter, my most recent encounter with the blockchain-not-bitcoin brigades was in Davos, at the World Economic Forum last month. The exclusive Swiss ski resort where the global elite gather every year is as establishment as it gets. In the past few years, the steady creep of crypto into the mainstream has been apparent in the snowbound town. After the crash, the session on crypto in the main Congress Centre this year wasn’t as well attended as the one the year before, giving naysayers the fodder to say that the world no longer cares. This is wrong. That’s because the real action in Davos typically takes place away from the official programming, in numerous side events held in hotels, lounges, and chalets scattered around the city. In my experience, there was more blockchain chatter in Davos this year than ever before. By my count, twice as many venues hosted crypto- and blockchain-focused events in 2019 than in 2018. The more buttoned-up nature of the crowds and programs was also revealing. Last year, the lively “Crypto HQ” lounge got a visit from the local police early in the week, for convoluted reasons I couldn’t quite confirm. The outlaw vibe of the place fit the brash tone of crypto’s peak days: There was Jägermeister on tap, animal skin rugs everywhere, and panels with execs from Cambridge Analytica talking about how to monetize data with blockchain. (How did that work out for them? Oh.) This year, the only venue with “crypto” in its name was Crypto Mountain, a converted shipping container parked outside a casino, that hosted al fresco panel discussions on the sidewalk. The more common theme of purpose-built venues along the promenade was clear: there was Blockchain Central, Davos Blockbase, and the Blockchain Economic Forum, to name a few. During the week, the World Economic Forum announced the founding of a Global Council on Blockchain, not to be confused with the Global Blockchain Business Council, the first crypto group to set up shop in Davos, in 2017. The sorts of people you met at crypto gatherings this year were also very different. Last year, at ConsenSys’s Ethereal Lounge, I watched panel discussions where participants talked about tokenizing sheep herds and using blockchain to track land ownership on other planets. (What happens when the data beamed back to Earth hits a wormhole, asked someone in the audience, which prompted a discussion of quantum mechanics and relativistic physics.) This year, at the same venue, I moderated a panel about trade finance, with real-world examples of blockchain-based letters of credit passing between banks and traders in the crude oil market. Last year, a lawyer on a panel I attended asked, “should we be regulating at all?” This year, more than a few crypto fund managers pitched me on the strength of their regulatory teams and relationship with securities regulators. I heard “STO” far more than “ICO.” So what? Davos gets a lot of criticism, and the jokes about the hot air produced there making the sub-zero weather more manageable are not totally off base. But few events gather so many executives and policymakers in the same place, and that counts for something. There are also far cheaper places to set up shop to talk about blockchain, which strikes me as an important signal. Last year, a startup founder I met in Davos described the rise of crypto as a “reality hard fork.” Today, reality seems relatively undisturbed, but that doesn’t necessarily mean that it’s business as usual.—Jason Karaian Hacks, scams, and capers Unraveling the Quadriga mystery A flotilla of attorneys is massing in a Halifax, Nova Scotia, bankruptcy court today in a bid to represent the owners of some $144 million worth of cryptocurrency that may be locked away in the electronic coffers of Quadriga CX. Quadriga, a Canadian crypto exchange, was granted bankruptcy protection last week after an unusual series of events that, in the best case scenario, expose a serious flaw in the architecture of the crypto economy and, at worst, suggest massive theft. Quadriga was founded in 2013 by Gerald Cotten, who operated the exchange alone from his laptop. When Cotten, 30, died unexpectedly from Crohn’s disease while in India in December, he didn’t leave behind passwords to the cold wallets used to store his clients’ funds, according to an affidavit filed by his widow (pdf). (For more on hot and cold wallets, see the De-jargonizer below). While the over-reliance of crypto accounts on unrecoverable passwords, and the systems’ difficulty in handling assets in the event of death, are not new problems, it has never caused quite as big a fiasco as this. However, not everyone is convinced it’s a simple matter of an inaccessible private key. According to experts interviewed by the Wall Street Journal (paywall), an analysis of transactions by some Quadriga customers found no evidence of their funds flowing into cold wallet accounts, but instead going into accounts at other exchanges. Other experts, and rival exchange operators, aren’t sure what happened exactly. Resolving whether the money was stolen or simply inaccessible doesn’t offer much relief to the 115,000 Quadriga customers who lost their money. One of them says he was using Quadriga as a low-cost means to transfer his life savings—$422,000—from US to Canadian dollars after he took a job in Vancouver. Now, he is wiped out. “I just got caught up in this at the wrong time, I guess,” he told Bloomberg. — Oliver Staley Crypto meets finance The feds have their eye on crypto It may be crypto winter, but the feds haven’t forgotten about digital assets. The Commodity Futures Trading Commission (CFTC) said this week that “cryptocurrency surveillance practices” are now a priority for examination. While it wasn’t entirely clear what this entails, the statement suggests the agency may be looking ways, perhaps via CFTC-regulated exchanges CME Group and Cboe, to more closely examine spot crypto exchanges. A little digging into federal filings also shows that the CFTC spent $70,000 on services from Chainalysis, which makes software for crypto compliance and investigations. The Department of Homeland Security paid Chainalysis almost $1 million, while the Justice Department and US Treasury have spent money on its services as well. The efforts to more closely scrutinize that crypto sector demonstrate the US government doesn’t think digital assets are a passing fad. It also shows there are ways to make money in crypto even when trading has cooled. About one-third of Chainalysis customers are government entities. Even as crypto pessimism seems to set in, this week the fintech upstart said it raised $30 million from investors including Accel and Benchmark. Chainalysis said it plans to use the money to open an office in London, giving it access to the UK capital’s talent pool, as well as proximity to financial institutions and European governments. —John Detrixhe and Justin Rohrlich De-jargonizer Hot and cold wallets Keeping your holdings safe is one of the greatest challenges of cryptocurrency ownership. Bitcoin wallets broadly fall into two categories. Hot wallets are software versions of your public key (your receiving address) and your private key (your sending address), and they are kept on devices connected to the internet. Because they’re online, hot wallets can be vulnerable to hackers and malware. As suggested by their name, cold wallets—also called “cold storage—are versions of your public and private keys, which are not connected to the internet. For example, you may choose to keep your wallet information exclusively on a thumb drive or even printed on a piece of paper (these are called “paper wallets”). Of course, with cold wallets, you must contend with the physical security of your wallet information. So, steer clear of the shredder, small children, fires, and puppies. —Matthew De Silva [endmatter]Please send news, tips, and Jäger shots to privatekey@qz.com. Today’s Private Key was written by Jason Karaian, John Detrixhe, Justin Rohrlich, Oliver Staley, and Matthew De Silva, and edited by Oliver Staley and Jason Karaian. Love sought is good, but given unsought is better. [/endmatter]
13 Feb 19
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10 Feb 19
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09 Feb 19
How To Speedy Sale Or Sell A House Quick In A Sluggish Assets Market Place

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07 Feb 19
David Buik

TODAY – FTSE 100 (-0.06%) -4 points at 7173, DAX -0.38% at 11324, CAC -0.8% at 5079 – Shock plunge in German factory orders growth fuels eurozone recession fears. FTSE 100 edges away from four-month high, snapping six-day winning run. Traders underwhelmed by Trump State of the Union speech   DJIA -0.08% – -21 points at 20390, […]