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In remarks that highlight flaws of the fiat currency system, the European Central Bank (ECB) president, Christine Lagarde, says the institution cannot go bankrupt even if it incurs losses running into trillions. According to Lagarde, normal bankruptcy rules do not apply to the ECB primarily because it is the sole issuer of euro-denominated central bank … Read more
“We just want to know that our funds are safe,” said one Cred user Go to Source Powered by WPeMatico
The trustee of the now-defunct crypto exchange, Quadriga CX says the sell-off of the platform’s assets raised $30 million. This contrasts with the $171 million in claims that has been filed with the trustee by Quadriga creditors. Consequently, Ernst and Young (EY), the accounting firm mandated with administering Quadriga’s liquidation process, says it will not … Read more
Crypto exchanges — not segregating blockchain addresses — could lead to ownership disputes in the event of insolvency, research says. Go to Source Powered by WPeMatico
The past few years have seen a glut of cryptocurrency exchanges becoming insolvent. But what legal rights do their customers have with regards to the return of their held assets? Go to Source Powered by WPeMatico
Gox Rising has offered to buy out creditor claims from the collapsed cryptocurrency exchange Mt. Gox. The Brock Pierce-led outfit will pay $800 per bitcoin claim, either in BTC or cash, to creditors who are unwilling to wait for the finalization of the ongoing civil litigation. “Our payment would be put in escrow and made … Read more
Switzerland’s “crypto valley” is asking the government for 100 million Swiss francs ($102.7 million) in funding, local media reported. The once flourishing Swiss cryptocurrency industry is struggling to survive following the withdrawal of private equity investors. About 80% of 203 firms surveyed by the Swiss Blockchain Federation recently warned of imminent bankruptcy. Only half of … Read more
FCoin announces its relaunch, promising to repay all its users Go to Source Powered by WPeMatico
Is FCoin another exit scam in the cryptocurrency exchange scene or is its insolvency simply due to ineptitude on the part of the company? Go to Source Powered by WPeMatico
Recent reports show that major marijuana companies are running out of money, and businesses in Canada are especially in danger of becoming illiquid. Major producers in the weed-friendly nation have just over 6 months of cash on hand, according to the information, and comparable companies in the U.S. just over one year of liquidity. In … Read more