The company filed for bankruptcy in August.
Prime Trust Lost $8M in Doomed Terra Stablecoin Investment, CEO Says
A separate 2021 wallet bungle by the crypto custodian, taken into receivership in July, cost it $76 million, the CEO said in a court filing.
Crypto custodian Prime Trust files for Chapter 11 bankruptcy
The crypto custodian’s bankruptcy comes as it’s been unable to honor customer withdrawals for months.
Struggling Crypto Custodian Prime Trust Looks Poised for Potentially Massive Layoffs, Sources Say
Nevada regulators recently ordered the crypto company, which BitGo had planned to buy, to cease operations and noted a shortfall in customer funds.
Prime Trust Put Into Receivership Amid Shortfall in Funds, Charges It Misused Customer Money
Crypto custodian Prime Trust has been ordered by the Eighth Judicial District Court of Nevada, where the company has its headquarters, to be put into receivership after the state ordered the custodian to cease all activities amid a shortfall of customer funds.
Prime Trust Is Having a Bad Month
Prime Trust may be taken over by the state of Nevada, and the situation seems alarming.
Apparently It’s Very Difficult to Custody Crypto
TrueUSD Stablecoin Has $26k of Funds at ‘U.S. Depository Halting Withdrawals,’ Reserve Report Says
The stablecoin issuer said last week that it had “no exposure” to the failed crypto custodian Prime Trust.
Nevada Places Crypto Custodian Prime Trust Into Receivership
Nevada’s Financial Institutions Divisoin filed to appoint a receiver for crypto custodian on Prime Trust, the regulator announced on Tuesday.
BitGo Still Has Acquisitions Pending After Canceling Prime Trust Purchase
CEO Mike Belshe said he sees consolidation in the crypto custody sector in the next six months.
Prime Trust can’t honor customer withdrawals, says Nevada regulator
Nevada’s business regulator issued a cease and desist order to the crypto custodian alleging it has a “shortfall of customer funds.”
Prime Trust Has ‘Shortfall of Customer Funds,’ Nevada Regulator Says
Crypto custody firm Prime Trust has “a shortfall in customer funds” and was unable to meet all withdrawal requests this month, the Nevada Department of Business and Industry said Thursday.
TrueUSD Says TUSD Stablecoin Has ‘No Exposure’ to Embattled Prime Trust
Stablecoin project TrueUSD said Thursday it had “no exposure” to embattled crypto services company Prime Trust as it raced to shore up confidence in its dollar-backed TUSD.
Crypto Custody Firm BitGo Cancels Acquisition of Rival Prime Trust
Prime Trust has been losing clients and deposits to competitors for weeks amid mounting concerns over its business, a source at one former client told CoinDesk.
Prime Trust Unit Banq Files for Bankruptcy
Bankruptcy filing comes as TrueUSD stops redemptions and Haru Invest ceases operations citing problems with an unnamed partner.
Bitcoin Payments Firm Strike Moves Custody In-House After Ditching Third-Party Services
The move is a “culmination of over two years of effort,” according to Strike CEO and cofounder Jack Mallers.
Crypto Custody Firm BitGo Reaches Preliminary Agreement to Buy Prime Trust: Source
Cryptocurrency custody firm BitGo is seeking to buy Prime Trust, another crypto custody specialist regulated in the state of Nevada, according to a person familiar with the matter.
Bitcoin’s Hot Ordinals Economy is Getting a Dollar-Backed Stablecoin
Stablecoin issuer Stably is launching a dollar-backed stablecoin for traders of Bitcoin NFTs and BRC-20 tokens.
Dapper Labs Unveils Flow-Native Stablecoin, FUSD, With Other ERC-20-Like Tokens to Follow
The maker of NBA Top Shot is deploying new tools for developers to launch tokens on the Flow blockchain.
Prime Trust, tZERO Partner on Digital Asset Custody, Trading
The integration will enable Prime Trust to manage the custody of digital securities and cryptocurrencies for its customers using tZERO for trading.