Does Ernst & Young’s Report on QuadrigaCX Debacle Support this Conspiracy Theory?

According to a report by the firm appointed to oversee the financial affairs of now defunct crypto exchange QuadrigaCX, the trading venue has only $21 million of a total $160 million it owes out. The exchange shut up shop earlier this year a month after its CEO supposedly died in mysterious circumstances.

The revelation seems to lend support to a speculative theory posited by Coinbase’s Brian Armstrong in February. Armstrong said that QuadrigaCX’s CEO’s sudden death may have been used as a scapegoat for the company’s overall mismanagement of its finances.

Did QuadrigaCX Ever Have Crypto in Cold Storage?

A report dated May 1 but that appears to have been published later states that QuadrigaCX does not have the money it owes out to creditors. Ernst and Young, the court-appointed monitor and trustee in the case, has only managed to track down around $21 million in assets of a total $160 million that is owed out by the exchange.

The report details the assets held by three different…

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2019-05-10 23:00:51

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