Prime Trust
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The company allegedly invested $6 million of customer funds in Terra prior to the collapse
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The company had previously faced concerns from Nevada’s state regulator over its ability to honor withdrawal requests
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Prime Trust was only $861,000 short of paying back its outstanding crypto-based obligations to clients
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Prime Trust’s insolvency has led traders to short TUSD despite claims it had “no exposure”
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Nevada’s Financial Institutions Division ordered Prime Trust to stop all operations as its business has declined to a “critically deficient level”
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Hayvn told customers that Prime Trust halted deposits following an order from the Nevada Financial Institution Division on Wednesday
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Banq reported it has $17.5 million in “causes of actions against third parties,” citing “claims against former officers and related entities”
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The tentative agreement would result in BitGo purchasing Prime Trust outright, the company said on Thursday
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Prime Trust’s IRA product comes less than a year after ForUsAll launched an investment vehicle that offers crypto exposure through 401(k) accounts
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As it continues to work through its bankruptcy proceedings, Celsius is attempting to regain $17 million in assets it claims it is owed
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Jump Crypto’s head of investments said investors may take more care in project evaluation, but funding will continue to enter the space
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In an industry first, Prime Trust uses a single application programming interface (API), aiming to “to make the end user experience very frictionless,” chief product officer says
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The cryptocurrency market has experienced a huge uptick in fundraising, with blockchain start-ups raising a record $4.38 billion in Q2 of this year, according to data from CB Insights.
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