The New "Quadriga CX" Is Binance? 3 Reasons Why This Could Be True!

Are you aware of the latest news about the QuadrigaCX Bitcoin exchange? If not, read on! In case you don’t know, an article from The New York Times published this week. It was sad and unfortunate news for crypto users in Canada as well as other parts of the world. This is because it reported that the founder and CEO of QuadrigaCX, Gerald Cotten, had died suddenly in India. And so now many people are asking whether we will see a new “QuadrigaCX” soon? Let’s find out what has happened so far and why Binance can be considered as the new "QuadrigaCX"…

What has happened so far?

The QuadrigaCX’s death is saddening news for many reasons. Firstly, QuadrigaCX holds the title of being the first Bitcoin exchange in Canada. It was founded as early as 2013. And so, it has been operating for more than five years now. Secondly, it is one of the largest cryptocurrency exchanges in Canada. More than $90 million worth of trades were carried out per month on the platform. Thirdly, QuadrigaCX has always been a great place for trading Bitcoin and other altcoins. It’s a real shame that the exchange has now gone out of business. And this is because it has a huge supply of customer funds. And so, these funds are currently frozen due to the death of its founder/CEO, Gerald Cotten.

Binance on the horizon as the new "QuadrigaCX"

QuadrigaCX has been one of the most popular cryptocurrency exchanges in Canada. But now, with its death, many users are wondering if they will ever see its replacement. If you are also wondering the same, then don’t worry. Because it looks like Binance could soon become the new “QuadrigaCX”. This is because Binance has already offered to help the users who were affected by the death of QuadrigaCX. Along with this, Cotten also used to work as Binance’s chief risk officer. So now, many people believe that Binance will soon be able to replace the QuadrigaCX. And so, it will be able to help the frozen funds of QuadrigaCX’s customers become liquid again. But this is not all. Many people also hope that Binance will be able to create a new “QuadrigaCX”. They hope that this crypto exchange will be able to provide the same service as the old “QuadrigaCX”.

Binance and QuadrigaCX: what’s the connection?

There is no denying that Cotten and Binance have had a connection for several years now. This is because he has been working as the chief risk officer of Binance since 2017. And so, it’s very normal to see Binance be the one who is helping the frozen funds of QuadrigaCX’s customers. But many people are also suspecting that Binance is soon going to replace QuadrigaCX. And so, it will also be able to help more people all over the world get access to the cryptocurrency market. But there is a connection that goes beyond just Cotten. And so, many people are hoping that Binance will soon be able to become the “new QuadrigaCX”. And so, it will also be able to provide the same services as the old “QuadrigaCX”. Along with this, it will also be able to help many people get access to the cryptocurrency market.

Limiting Factors of Binance becoming “Quadriga CX”

There is no denying that Binance could soon become the “new QuadrigaCX”. And so, it will be able to help the frozen funds of QuadrigaCX’s customers become liquid again. Apart from that, it will also be able to help more people get access to the cryptocurrency market. But there are a few factors that are limiting Binance from being the new “QuadrigaCX”. Some of them include language barriers, operational costs, and scalability. In case Binance wants to become the new “QuadrigaCX”, it will have to overcome all these factors. Otherwise, it will be very difficult for Binance to operate in the same way as the old “QuadrigaCX”.

Conclusion

The death of the QuadrigaCX’s founder, Gerald Cotten, is really saddening news. And so, many people are now asking if they will ever see another “QuadrigaCX”. If you are also wondering the same, then don’t worry. Because it looks like Binance could soon become the new “QuadrigaCX”. This is because Binance has already offered to help the users who were affected by the death of QuadrigaCX. In addition to this, Cotten also used to work as Binance’s chief risk officer. So now, many people believe that Binance will soon be able to replace the QuadrigaCX. And so, it will be able to help the frozen funds of QuadrigaCX’s customers become liquid again. However, there are a few factors that are limiting Binance from becoming the new “QuadrigaCX”. But we hope that these factors won’t be able to stop Binance.