Cryptocurrency Analysis and News Portal
The Eighth Judicial District Court of Nevada has granted a petition from the state’s Financial Institutions Division (NFID) placing crypto custodian Prime Trust into receivership, pending a hearing to show cause. In a July 14 filing, the Nevada court ordered the appointment of a receiver for Prime Trust following a June
Read More
Crypto custodian Prime Trust has been ordered by the Eighth Judicial District Court of Nevada, where the company has its headquarters, to be put into receivership after the state ordered the company to cease all activities amid a shortfall in customer funds and accusations that it used customer funds to
Read More
Following the filing of a cease and desist order, Nevada’s Financial Institutions Division has again moved against crypto custodian Prime Trust by petitioning for the appointment of a receiver.In a June 26 filing, the regulator petitioned the Eighth Judicial District Court of Nevada for a temporary restraining order and an
Read More
Prime Trust entered an agreement with Fireblocks to have the latter company manage its crypto assets, which was completed in 2020. In 2021, after Prime Trust saw new management, it set up "legacy wallet forwarding," for wallets that were either on Fireblocks' platform or set up to forward to wallets
Read More
A fortnight after the newly appointed Silicon Valley Bank (SVB) chief executive officer (CEO) cheered customers to return funds to the bank, the Federal Deposit Insurance Corporation (FDIC) has reportedly sent emails informing customers that their funds were in receivership. Mayopolous woos depositors Developments emanating from the embattled SVB, after Mayopolous’ advice, have
Read More
Last week was mainly bearish as several macro events had a detrimental effect on the industry. Major developments, such as the voluntary liquidation of Silvergate and the crash of Silicon Valley Bank (SVB), disrupted the industry, resulting in a sell-off that pushed asset prices to multi-month lows. In addition, regulatory
Read More