Cryptocoins News / The Cointelegraph - 1 year ago
MAS is also working to restrict crypto service providers from facilitating lending or staking for retail customers, but not for institutional ones. Singapore’s central...
by COINS NEWS - 1 year ago
Prime Trust is a crypto custodian, such that they generally hold crypto on behalf of customers. They apparently did business with the likes of Celsius, FTX and Binance US, ironically the first two of who have been involved in fraud of their own...
More / Bitcoin Reddit - 1 year ago
The firm manages approximately $11 trillion in assets and tens of millions of clients. Similar to U.S. spot bitcoin ETF filings over the past few weeks, the updated application says Fidelity expects to enter into a surveillance sharing agreemen...
Cryptocoins News / The Cointelegraph - 1 year ago
The huge asset manager was denied approval for the Wise Origin Trust last year; now, it is joining a long line of spot fund hopefuls. Asset manager Fidelity Investment...
Bitcoin News / Bitcoin.com - 1 year ago
The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsib...
Bitcoin News / Bitcoinist - 1 year ago
A legacy cryptocurrency wallet associated with Prime Trust has been blocked, and the team cannot access assets worth roughly $45 million, Arkham Intelligence data on June 28 shows. As per the report, most of the assets consist of Ethereum, valued at...
Bitcoin News / Bitcoin.com - 1 year ago
After briefly rising above $31,000, bitcoin consolidated on Wednesday, as bulls moved to secure recent gains. The uncertainty came as crypto custodian Prime Trust entered receivership, after being found to be illiquid by authorities. Ethereum also de...
Bitcoin News / Bitcoin.com - 1 year ago
In a recent submission to the Eighth Judicial District Court in Las Vegas, the Nevada Financial Institutions Division has expressed its intention to take decisive action against the crypto custodian Prime Trust. The regulatory body seeks to not only...
Cryptocoins News / The Cointelegraph - 1 year ago
The filing suggested Prime Trust had financial liabilities to its users totaling more than $82 million in fiat and $800,000 in crypto. Following the filing of a cease...
by COINS NEWS - 1 year ago
This was something ive been paying attention to considering its probably the most legitimate source of FUD circulating atm, and it looks for real as Prime Trust is headed for receivership. For anyone not familiar with Prime Trust, theyre a major bank...
Bitcoin News / Bitcoin Magazine - 1 year ago
Nevada's Financial Institutions Division has taken legal action against Prime Trust LLC, filing a court petition to place the company in receivership. The Division cited concerns about Prime Trust's unsafe and unsound operations as well as its insolv...
by COINS NEWS - 1 year ago
One of the main goals, if not the most important, in crypto is to remove the need for trust. The aim is to enable peer-to-peer transactions without relying on a third party. However, based on the recent scandal with Ledger’s recovery system, it got m...
Bitcoin News / Bitcoinist - 1 year ago
Following the recent decision to abandon its proposed acquisition of Prime Trust, BitGo CEO Mike Belshe revealed that the cryptocurrency custodian has several other investments in the works.
In an interview with First Mover on Monday, Belshe stated:...
Cryptocoins News / The Cointelegraph - 1 year ago
The debut of shares for the Bitcoin investment vehicle is potentially set for June 27, but the U.S. SEC has a pattern of denying many crypto-linked ETF applications. A...
More / Etherum Reddit - 1 year ago
After the recent Beacon Chain finalization issue, a few of us feel that a community-led initiative to diversify and distribute clients (among other things) is paramount to bolstering Ethereum trust and security. The idea would be to create a DAO, mem...
Bitcoin News / Bitcoinist - 1 year ago
A leading Nevada-based digital assets custodian, Prime Trust, received a cease and desist order from state regulators on Thursday, June 22. This happened after the crypto custodian failed to satisfy customer withdrawal requests on June 21.
Describing...