Early Tuesday morning, Bitcoin made the largest price surge in recent memory. Growing in value from just $4,180 USD to $5,080 in a short window, the cryptocurrency gained 22% while most of the country slept. Now, a number of analysts think that this surge could mark the start of the next bull run.
For the past few weeks, Canadian financial regulatory authorities have been considering regulating cryptocurrency exchanges in the country. The QuadrigaCX scandal seems to be yet another reason for the regulatory agencies to intervene in the”Wild West” they consider the cryptocurrency industry to be.
Coffee chain Starbucks has reached an equity deal with US cryptocurrency platform Bakkt. The Block reported that they received a “sizable equity cut” and that Starbucks will be heavily involved in the process of developing the app. For receiving this equity, Starbucks will allow Bitcoin to be used to purchase drinks at their stores. Bakkt has a vision of creating a new global market to trade and store online assets in the form of crypto.
With the unexpected death of Gerald Cotten, CEO and founder of Quadriga Fintech Solutions Corp., his widow Jennifer Robertson has found herself in the middle of a complicated legal battle. She is facing off in defense of her husband’s legacy against former Quadriga CX investors and customers. Robertson never thought this was going to be a simple process. She has admitted that she has little to no experience dealing with Bitcoin, let alone running a company. But what came as a surprise for her was the amount of blowback she is receiving.
Cryptocurrency often breeds a great deal of uncertainty. After all, many places still view it as the new kid on the block(chain). Clearly, respect for cryptocurrencies has increased. After all, some governments and companies are going through great lengths to attempt to control it and profit from it. There is still a lot of bias against using these paperless currencies; some still look down at cryptocurrencies with suspicion and distrust. This is especially due to the fact that cryptocurrencies are decentralized and often anonymous. Nevertheless, the adoption and value of those currencies have skyrocketed. But soon, Canadian company Quadriga CX may not find much of either.
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