Widow of QuadrigaCX Founder Hands Over $9 Million in Assets to Users

The widow of QuadrigaCX founder Gerald Cotten, Jennifer Robertson, is handing over $9 million in assets to the users of the now-defunct crypto exchange. Robertson returns most of her assets On Oct. 7, Jennifer Robertson announced in a personal statement, posted by Coindesk, that she would be transferring the vast majority of estate assets — previously valued around $9 million — to EY Canada. The Big Four audit firm acted as the bankruptcy trustee of QuadrigaCX during its insolvency hearings. Robertson stated: “I have now entered into a voluntary settlement agreement where the vast…

South Korean KB Kookmin Bank Adopts Blockchain to Improve Internal Processes

Major South Korean bank KB Kookmin Bank is planning to integrate blockchain technology into its internal processes. As local news outlet Korea JoongAng Daily reported on Oct. 7, the institution said blockchain technology could offer a multitude of benefits to the financial industry, including the issuance of digital tokens, funding, custodial services and trading. Taking a proactive approach toward blockchain adoption The bank intends to deploy distributed ledger technology to fight money laundering, improve verification services, custodial services and token offerings. Lee Woo-yeol, chief information officer at KB Kookmin, said that…

Key Trading Indicator Suggests Bitcoin Bulls Are Steadily Accumulating

Bitcoin (BTC) closed the week with a selloff, pushing price below the $8k handle and printing a close down 2.5% for the week as a whole. Despite an ominous close to the bottom of the trading range, Bitcoin has rebounded higher this morning alongside other cryptocurrencies, with notable gainers XRP and Link breaking 10% gains for the day.  With that in mind and with Bitcoin sat at a crossroads, we will take a closer look at the key timeframes to try and determine if Bitcoin is nearing a bottom.   Daily…

QuadrigaCX Founder’s Widow Will Cough Up $9 Million to Repay Users

Jennifer Robertson, the widow of QuadrigaCX founder Gerald Cotten, is transferring nearly $9 million ($12 million CAD) in assets to EY Canada, the bankruptcy trustee for the now-defunct crypto exchange. Robertson announced the move in a statement on Monday, saying since her husband’s death late last year, she had “made every effort” to assist in the recovery of QuadrigaCX’s assets.  The exchange folded earlier this year, after Robertson and other Quadriga-affiliated entities realized they did not have access to the company’s cold wallets, and therefore could not access any of…

Sacramento Kings Launches Blockchain Token for Its Predictive Gaming App

The Sacramento Kings NBA basketball team is launching a blockchain-powered rewards program within its gaming app. Partnership with Blockparty The Sacramento Kings partnered with New Jersey-based blockchain ticketing platform Blockparty to add blockchain-based rewards to its prediction game Call the Shot, the team officially announced on Oct. 7. According to the announcement, the new program will be available in the upcoming 2019–2020 season. During the season, Blockparty will be tracking Kings fans’ activity while they are betting on Call the Shot and accumulate points in a virtual wallet within each…

Major South Korean Store Chain Supports Blockchain Payments App

Mobile payments app CHAI is launching mobile blockchain-based payments at 13,500 CU convenience stores in South Korea. According to an Oct. 7 press release shared with Cointelegraph by blockchain startup Terra, CHAI — which operates on the Terra blockchain — will now be accepted as a means of payment at the major convenience store chain. App support will be added at CU by the end of 2019 following a partnership between CHAI and convenience store operator BGF Retail, which owns the stores in question. Per the release, CHAI will also…

Tim Cook Talks Cryptocurrencies | It’s a No for Tech Behemoth

Three months ago, Facebook (NASDAQ:FB) disclosed plans to roll out a cryptocurrency in the summer of 2020. Such news has made several headlines, with the latest being negative, as PayPal (NASDAQ:PYPL) might pull out of Facebook’s project. Even worse for the technology behemoth is that Apple (NASDAQ:AAPL), another tech giant, has expressed zero desire in following in the company’s footsteps, according to Tim Cook. Which brings forth the question: is it correct for Facebook to involve itself with virtual currencies? Here’s what we know about Apple’s latest comments. Tim Cook Talks…

US Blocking Libra Has National Security Implications

Ex-federal prosecutor and now Andreessen Horowitz partner Katie Haun has argued that the United States blocking Facebook’s Libra digital currency will have national security implications. Haun’s comments were reported in a CNBC profile published on Oct. 6. “Frankly a dangerous precedent” to shut Libra down Andreessen Horowitz is a founding member of the Libra Association, the Switzerland-headquartered non-profit consortium established to govern the Libra token.  Speaking of the planned cryptocurrency, Haun noted that the social media titan’s project was facing “the same criticisms” and misperceptions that the asset class faces…

Crypto Traders’ Lawsuit Claims Bitfinex, Tether Cost Market Over $1 Trillion

A new lawsuit claims crypto exchange Bitfinex and its sister company Tether manipulated the crypto market, harming traders and benefiting themselves. Bitfinex and a number of affiliated entities engaged in deceptive, anti-competitive and market manipulative practices, resulting in economic damages for the plaintiffs, according to a class action lawsuit filed Sunday in New York. Notably, the plaintiffs claim that the total damages add up to more than $1 trillion, writing: “Calculating damages at this stage is premature, but there is little doubt that the scale of harm wrought by the…