Largest Canadian crypto exchange lost $145 million

Summary:

  • SatoshiPay partners with Axel Springer to enable blockchain-based payments
  • QuadrigaCX lost around $145 million
  • Major cryptocurrencies launch the new week quite flat

The new week on the cryptocurrency market has begun quite flat as major digital coins has continued moving sideways. According to CoinMarketCap, the capitalization of the whole crypto market stands a notch above the $114 billion handle while the capitalization of altcoins sits around the $53.5 billion mark.

Bitcoin (BITCOIN on xStation5) has not experienced any major price movements since midnight, but the cryptocurrency has seen only a slight drop today to around $3415. Source: xStation5

Largest Canadian crypto exchange lost around $145 million

QuadrigaCX, the largest Canadian crypto exchange, lost cryptocurrencies worth 190 million of Canadian dollars (it’s around 145 million of US dollars). The death of Gerald Cotten on December 9 in India, who was CEO of QuadrigaCX, has caused the crypto exchange losing control over cold wallets containing virtual currencies worth over 150 million of Canadian dollars, and over 40 million CAD in fiat money stored with a third party. “An application for creditor protection in accordance with the Companies' Creditors Arrangement Act (CCAA) was filed today in the Nova Scotia Supreme Court to allow us the opportunity to address the significant financial issues that have affected our ability to serve our customers”, the company wrote on its website on January 31.

Ripple (RIPPLE on xStation5) experienced four consecutive bearish candlesticks on the daily chart. Moreover, the second largest cryptocurrency has seen a slight decrease during Monday’s trading. Source: xStation5

SatoshiPay cooperates with a major European publisher to enable blockchain-powered payments

SatoshiPay, a UK-based micropayments company, started on January 31 a partnership with Axel Springer, which is a major European publisher, to enable blockchain-based payments, as we could read in the SatoshiPay’s post on its Medium blog. Payments for the content of Axel Springer will be made using the SatoshiPay’s wallets. “Powered by blockchain technology, the wallet will be used to send direct payments from the user’s device to the publisher without an intermediary”, as the mentioned company’s post suggests.

Litecoin (LITECOIN on xStation5) broke a 50-period moving average (a light green line on the chart above). Moreover, the virtual currency has marched higher so far today extending its previous gains. The digital currency is trading around the $33.5 handle at press time. Source: xStation5

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