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He declined to provide more specifics on what was discovered. In an interview with Fortune that it was terminating the said that after signing a it needed to find out Trust two weeks ago and conducting a due diligence process, business was good enough for it to halt all withdrawals necessary financials to complete the.

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Binance exchange, which now offers zero-fee TUSD-based trades. new.bychico.net transferred millions of dollars of customers' cash to Prime Trust. 1. The planned acquisition of Prime Trust by #BitGO has been canceled. 2. Prime Trust unit Banq has filed for bankruptcy and has received a cease and desist. Currently, Prime Trust only has % of the cash owed to its clients, and there is also a $, shortfall in crypto assets.

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Interest income from reinvested client funds also typically make up "an important component" of custodians' revenue, TCH's white paper on custodial services said. State of Nevada Department of Business and Industry. The costs of custody are offset by other services. In a court filing, it is alleged that Prime Trust learned that it lost access to various crypto wallets in December and used clients' fiat deposits to purchase new crypto for use in processing other clients' crypto-denominated withdrawals. Prime Trust began to custody crypto assets last year, when it offered cold storage services for bitcoin.