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. In the August 15th filing, the company stated that it has 25...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
In the August 15th filing, the company stated that it has 25,000 to 50,000 creditors and expects liabilities of $100 million to $500 million.
And with Prime Core Technologies Inc., Prime Trust LLC, Prime IRA LLC, and Prime Digital LLC listed as entities, its estimated assets are valued at $50 million to $100 million....
Read More: Prime Trust Crypto Custodian Enters Chapter 11 Bankruptcy Amid Prolonged Crypto Winter
Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptonewsRelated market context
Ethereum ETFs Lose $320 Million In A Week As Bitcoin Outflows Slow
TL;DR: US spot Ethereum ETFs lost $320.1 million in the week ending October 16, more than the $228.4 million withdrawn from Bitcoi...
Binance Pay Opens Crypto Payments at Millions of PayPay Merchants Across Japan
Key Takeaways: Binance Pay is now available for visitors to use at PayPay merchants in Japan. Crypto is immediately converted to J...
Pantera Leads $10 Million Fission Funding Round To Solve Tokenized Fund Liquidity Problem
TL;DR: Tokenization infrastructure firm Fission has raised $10 million in a funding round led by Pantera Capital. It wants to make...
Binance.US Seeks $100 Million Funding Round At $1 Billion Valuation
TL;DR: Binance.US is reportedly seeking up to $100 million from private investors at a proposed valuation of approximately $1 bill...
Bitcoin ETFs Lose $82 Million As BlackRock Leads Friday’s Withdrawals
TL;DR: US spot Bitcoin ETFs recorded approximately $82.4 million in net outflows on October 16. BlackRock’s IBIT accounted for $71...
Cipher’s $850 million AI bet deepens investor scrutiny as Bitcoin miner’s stock plunges 52%
The completed exchange expands Cipher's share base as it adds $850 million in zero-coupon debt to support data-center development....