Prime Trust Initiates Chapter 11 Bankruptcy Filing

Following a decrease in customer cash flow, cryptocurrency custodian Prime Trust filed for Chapter 11 bankruptcy protection.

Following a decrease in customer cash flow, cryptocurrency custodian Prime Trust filed for Chapter 11 bankruptcy protection.

In a hearing on August 22, Prime Trust will have the chance to argue against the permanent approval of a petition from the NFID.

Prime Trust held approximately $119 Million of Celsiusโ asset when both the firm ended their contract in June last year.