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Abu Dhabi, UAESunday 17 February 2019

Business Extra: The curious case of QuadrigaCX

We discuss strange events in North America, where 92,000 customers’ cryptocurrency deposits have been rendered inaccessible

QuadrigaCX is unable to return assets it says it has to customers after its CEO's death. Bloomberg
QuadrigaCX is unable to return assets it says it has to customers after its CEO's death. Bloomberg

QuadrigaCX, one of Canada’s leading cryptocurrency exchanges, last week filed for creditor protection saying it was unable to retrieve almost C$200m worth of deposits belonging to clients because its CEO Gerald Cotten, the only one able to do so, had unexpectedly died.

The National’s Assistant Editor in Chief Mustafa Alrawi and Chris Nelson discuss the issue, which has all the makings of a mystery novel. Listen here:

In addition, this week marks earnings season and so far things are looking good both here and across much of the region.

The latest mega-merger in the UAE’s financial sector, which sees the coming together of Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank, is also making headlines.

Updated: February 6, 2019 10:39 AM

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