Canadian cryptocurrency exchange QuadrigaCX has been in the news regularly throughout 2019. Now, victims of its controversial fund losses are set to receive compensation from the founder’s widow.
Jennifer Robertson, the widow of late QuadrigaCX founder Gerald Cotten, released a personal statement on October 7, 2019, agreeing to forfeit a majority of her assets to those who were affected by its impropriety. An accompanying statement from the exchange’s court-appointed trustee, Ernst & Young, indicated that the estimated value of these distributions is approximately $9 million ($12 million CAD).
“Following the sudden and unexpected death of my husband, Gerald (Gerry) Cotten, I made every effort to assist in the recovery of QuadrigaCX assets for the benefit of Affected Users,” her statement reads. “I have now entered into a voluntary settlement agreement where the vast majority of my assets and all of the Estate’s assets are being returned to QCX to benefit the Affected Users. These assets originally came from QCX at the direction of Gerry.”
Robertson also reiterated that she had no prior knowledge of how Cotten ran the exchange prior to his death in 2018….
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Author: Jimmy Aki