Prime Trust News

15.08 / 11:27

business community Bankruptcy global crypto community Prime Trust bankruptcy spotted by crypto community months ahead

Crypto custodian Prime Trust filed for Chapter 11 bankruptcy in the United States state of Delaware on Aug. 14 after reporting shortfalls in customer funds. Prime Trust said it’s working with 25,000 to 50,000 creditors and has liabilities of up to $500 million.

20.09 / 19:23

CEO Coindesk information reports Department Prime Trust Crypto Custodian Signals Potential Layoffs for 62 Employees – Is the Bear Market to Blame?

Now-bankrupt crypto custodian Prime Trust has notified employees of potential layoffs affecting 62 individuals within the next two months, according to Nevada's Department of Employment, Training & Rehabilitation.

11.09 / 11:47

Custody Anchorage Digital CEO Highlights 'Widespread' Self-Custody Risks After Prime Trust Bankruptcy

The collapse of crypto custodian Prime Trust in recent months has underscored the inherent risks of self-custody within the cryptocurrency industry, according to Diogo Monica, CEO of San Francisco-based crypto bank Anchorage Digital.

15.08 / 22:35

Bankruptcy Prime Trust Crypto Custodian Enters Chapter 11 Bankruptcy Amid Prolonged Crypto Winter

On Monday, Las Vegas cryptocurrency custodian Prime Trust filed for Chapter 11 bankruptcy protection, marking another setback for the troubled fintech company.

28.06 / 20:23

regulation Action Discover ABRA Prime Trust Faces Closure as Nevada Regulators Take Action – Another Bear Market Victim?

Crypto custodian Prime Trust is facing imminent closure as Nevada regulators move to shut down the troubled company, potentially making it the latest victim of the crypto bear market.

27.06 / 17:45

coinbase BitGo Deal Despite Abandoning Prime Trust Deal, BitGo Eyes Other Acquisitions

After abandoning the Prime Trust deal, BitGo CEO Mike Belshe has said that there are several other acquisitions in the pipeline.

24.06 / 08:09

Blockchain Ethereum Stablecoin Tokens Aave Redemptions Trader takes $4M short position on TrueUSD as issuer halts mints and redemptions

Following TrustToken’s decision to temporarily halt mints and redemptions of its TrueUSD (TUSD) stablecoin through its banking partner, Prime Trust, a trader has taken advantage of the situation by initiating an on-chain short position.

23.06 / 18:23

BitGo Deal Deal Cancelled: BitGo Pulls Out of Prime Trust Acquisition and Users Report Withdrawal Issues

BitGo, the American crypto custodian platform, has made the decision to cancel the acquisition of Prime Trust.

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