“On or about June 21, 2023, Respondent was unable to honor customer withdrawals due to a shortfall of customer funds caused by a significant liability on the Respondent’s balance sheet owed to customers,” the order said. “Additionally, Respondent failed to safeguard assets under its custody and is unable to meet all customer withdrawals.”
Crypto Custodian Prime Trust Has ‘Shortfall of Customer Funds,’ Nevada Regulator Says
