QuadrigaCX CEO Used Personal Money to Fund Exchange During Litigation With Bank in 2018

13 Mar 2019

QuadrigaCX CEO Used Personal Money to Fund Exchange During Litigation With Bank in 2018

The late founder of Canadian crypto exchange QuadrigaCX, Gerry Cotten, was purportedly funding the exchange with his own money while it was in litigation with a major Canadian bank. Cotten’s widow Jennifer Robertson revealed details about the exchange’s financial situation in a statement published on March 13.

The statement reads that Cotten was putting his own money into Quadriga to fund user withdrawals in 2018, after the Canadian Imperial Bank of Commerce (CIBC) had frozen five accounts holding $21.6 million. Robertson stated:

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