Canadian crypto exchange QuadrigaCX was ordered by the Supreme Court to officially enter bankruptcy

On April 8, Michael Wood, Judge of the Supreme Court of Nova Scotia, Canada, ruled that the Canadian crypto exchange QuadrigaCX will turn into bankruptcy in the next few days. The ruling means that QuadrigaCX, which has applied for creditor protection, will file for bankruptcy next week. Ernst & Young will become the trustee of the exchange, have greater investigative power over the missing funds, and allow it to start selling assets such as its trading platform. The proceedings of the exchange and its directors from litigation will continue to be effective in a short period of time.