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CryptoCurrency

Prime Trust Unravels: Files for Bankruptcy after Acquisition Intent Fails

The regulators shut the crypto custodian due to alleged fiduciary breaches.
Former Bank of Nevada's President to lead restructuring efforts.

Tuesday, 15/08/2023 | 18:13 GMT by Jared Kirui

CryptoCurrency

Troubled Crypto Custodian Prime Trust Might Cut 75% of Jobs: Report

A court in Nevada recently placed the firm under receivership.
The firm cut a third of its workforce in January, according to CoinDesk.

Friday, 11/08/2023 | 18:55 GMT by Solomon Oladipupo

CryptoCurrency

Regulatory Orders Says Prime Trust Has 'Shortfall of Customer Funds'

The regulator ordered the crypto custodian to cease operations.
The company had a negative amount of $12 million in stockholders' equity position at the end of March.

Friday, 23/06/2023 | 07:35 GMT by Arnab Shome

CryptoCurrency

Crypto Custody Provider BitGo Ditches Plan to Acquire Rival Prime Trust

The rival companies reached a preliminary agreement earlier this month.
Prime Trust has ceased all deposits of fiat and crypto assets.

Thursday, 22/06/2023 | 20:43 GMT by Solomon Oladipupo

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