Daily Crypto NewsEDITION #314, 27 September 2021

The QuadrigaCX chariot has made it to the screen!

Hey Moni Maker

Today, they founded Google in 1998. No matter how much shit is poured on the guys now because of privacy and monopolization problems, you have to give them respect. Google does make life easier and better by helping us find the correct address/store/person/information, and so on.

The only pity is that Google can't search for alpha projects. But we do :) Let's go!

As Decrypt reports, next year, Netflix will premiere a new documentary on the QuadrigaCX scandal. Called “Trust No One: The Hunt For The Crypto King”, it will tell the story of Gerard Cotten, the founder of the Canadian crypto exchange who died while on honeymoon in India in 2018, and was thought to have taken $250 million in customer funds to the grave.

A press release from Netflix says that the documentary will “follow a group of investors turned sleuths as they try to unlock the suspicious death of cryptocurrency multimillionaire Gerry Cotten and the missing $250 million they believe he stole from them.”

Some people thought that Cotten hadn’t actually died but had instead faked his death and fled with customer funds. In December 2019, lawyers representing out-of-pocket customers requested that Canadian police dig up his grave to check he was actually there.

The Canadian police denied his request, and people these days generally accept that Cotten really did die of Crohn's disease—but he hadn’t taken the keys to customer funds with him to the grave.

According to postmortem findings from Ernst & Young, Cotten had been siphoning funds from QuadrigaCX well before his death and spending them on luxury items, such as cars, planes and yachts.

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XO!

Thought it was FOMO? Ha! It's FUD. Anyway, the Chinese authorities released a document about crypto. We stuffed it into a translator and this is what we got (no, we won't clean the text, it won't be so funny this way):

(1) Virtual currency does not have the same legal status as legal currency. Virtual currencies such as Bitcoin, Ether, and TEDA have the main characteristics of being issued by non-monetary authorities, using encryption technology and distributed accounts or similar technologies, and exist in digital form. They are not legally reparable, and should not and cannot be used as currency in the market. Use on circulation.

(2) Virtual currency-related business activities are illegal financial activities. Carrying out legal currency and virtual currency exchange business, exchange business between virtual currencies, buying and selling virtual currencies as a central counterparty, providing information intermediary and pricing services for virtual currency transactions, token issuance financing, virtual currency derivatives transactions and other virtual currency related Business activities suspected of illegal sale of tokens and tickets, unauthorized public issuance of securities, illegal operation of futures business, illegal fund-raising and other illegal financial activities are strictly prohibited and resolutely banned in accordance with the law. If carrying out relevant illegal financial activities constitutes a crime, criminal responsibility shall be investigated in accordance with the law.

And so on.

So what?

So...the news is just another FUD. Forget it.

As Decrypt reports, Behemoth cryptocurrency exchange Binance has been cagey about where it's located. Its biggest competitor has no such issues.

FTX, the second-most-popular crypto trading platform, has officially moved its headquarters from Hong Kong to the Bahamas, according to its website. It remains incorporated in Antigua and Barbuda.

If you had your own crypto exchange, where would you register it?

Well, that's what Mr. Saylor advises you to do.

We all know his love of bitcoin - what about you? Do you agree? Or do we stay shitcoins

Ask Me Anything (AMA) is the format of interviews with CEO or other project representatives. Most often takes place on Telegram. AMA is organized by bloggers or the media, pre-collecting questions from subscribers. Sometimes users can get a drop for cool questions. Example: Moni Talks is doing AMA with CEO Binance CZ. Prizes for cool questions - 1 bitcoin.

And more you can find in our Glossary!

And you...buy Bitcoin! (it's a good time!)