Despite the recent negative news to hit the security apparatus involving the cryptoshere, markets have remained relatively unchanged at press time.
Major cryptocurrencies are, for the most part, in the red with Bitcoin (BTC) just above the waterline at 0.15%, Ethereum (ETH) down .047%, EOS down 0.5%, Bitcoin Cash (BCH) down 1.4 %, Tron (TRX) down 2.4%, and Stellar (XLM) down 3.7%.
Trading activity remained low in the cryptocurrency segment following a mixed weekend, and although the top coins continue to be stuck in bearish technical arrangements, bulls avoided a move below the key short-term support levels. Conversely, none of the majors managed to show bullish momentum or technical progress in the quiet environment, and the crypto market hasn’t seen major resistance levels fall, which would indicate buying pressure.
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QuadrigaCX Saga Continues in Court
A Halifax judge says he will grant Canada’s largest cryptocurrency exchange protection from creditors as it deals with the fallout from its founder’s death.
Nova Scotia Supreme Court Justice Michael Wood today granted QuadrigaCX a 30-day stay of proceedings in a bid to stop any lawsuits from proceeding against the company to date.
Maurice Chiasson, who is representing QuadrigaCX, told Wood the company needed time to find CAD$250 million in missing cryptocurrency and cash.
QuadrigaCX filed for creditor protection on January 31st, and Wood confirmed earlier today that he would grant that order.
The Vancouver-based exchange currently owes CAD$70 million in currency and an additional amount of cryptocurrency valued at approximately CAD$180 million to roughly 115,000 users.
Cotten's encrypted laptop will be given to lawyers acting for the creditors and will be eventually given to a court-appointed monitor.
A spokesperson for the Nova Scotia RCMP confirmed they are assisting an investigation into QuadrigaCX that is being led by the RCMP's Toronto West detachment.
Lawyers for Quadriga said in court on Tuesday they are considering a possible sale of the company to satisfy debts.
