⚖️ Court takes control of funds amid crypto exchange’s banking dispute

A Canadian court is taking charge of $26 million CAD claimed by crypto exchange QuadrigaCX due to a dispute over the funds’ provenance. A judge from the Ontario Superior Court of Justice granted the Canadian Imperial Bank of Commerce (CIBC) an interpleader order on Nov. 9, allowing the court to take control of the funds until their ownership can be established. However, the bank will maintain liability for the funds, given that CIBC froze the funds on its own initiative.

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