Prime Trust
The company allegedly invested $6 million of customer funds in Terra prior to the collapse
The company had previously faced concerns from Nevada’s state regulator over its ability to honor withdrawal requests
Concerns around reminting on-chain for stablecoin TUSD continue to rise
Prime Trust was only $861,000 short of paying back its outstanding crypto-based obligations to clients
Prime Trust’s insolvency has led traders to short TUSD despite claims it had “no exposure”
Nevada’s Financial Institutions Division ordered Prime Trust to stop all operations as its business has declined to a “critically deficient level”
Hayvn told customers that Prime Trust halted deposits following an order from the Nevada Financial Institution Division on Wednesday
Banq reported it has $17.5 million in “causes of actions against third parties,” citing “claims against former officers and related entities”
The tentative agreement would result in BitGo purchasing Prime Trust outright, the company said on Thursday
Prime Trust’s IRA product comes less than a year after ForUsAll launched an investment vehicle that offers crypto exposure through 401(k) accounts
As it continues to work through its bankruptcy proceedings, Celsius is attempting to regain $17 million in assets it claims it is owed
Jump Crypto’s head of investments said investors may take more care in project evaluation, but funding will continue to enter the space
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
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.