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Prime Trust Files for Bankruptcy, Raising Concerns on Digital Asset Custody!

August 15, 2023
in Crypto Exchanges
Reading Time: 2 mins read
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Creator: Mustafa Mulla Aug 15, 2023 9:20

Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech trade since 2017.

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Prime Belief, a Nevada-based monetary firm, has filed for chapter after the state’s enterprise regulator issued a cease-and-desist order earlier in June. The order cited the agency’s “critically poor” monetary situation and lack of ability to honour buyer withdrawals. This has raised considerations in regards to the security of digital asset custody held by Prime Belief, a vital service within the rising digital asset trade. The corporate, which has been offering providers like cost processing, compliance, and custody for safety tokens, has seen fast development because of the growth in cryptocurrencies in recent times.

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Tags: assetBankruptcyconcernsCustodyDigitalFilesPrimeRaisingTrust
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