Crypto Collapse: Prime Trust’s Fall From Grace and the Disappearing Wallet Mystery
After Prime Trust filed for chapter safety, the corporate’s interim CEO Jor Law cited extreme spending, losses on the stablecoin terrausd, and issues accessing buyer...
From Crypto Custodian to Court: Prime Trust Files for Bankruptcy Protection
In the wake of economic upheavals and regulatory hurdles, Prime Trust, a digital forex custodian, has formally sought Chapter 11 chapter safety. This transfer carefully...
Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes
The cryptocurrency agency and bitcoin funding app, Coinbits, has introduced the suspension of its providers resulting from issues involving the Nevada-based custodian, Prime Trust. Following...
Study Shows Bank of England’s Rising Interest Rates Threaten 1.2 Million UK Households With Insolvency
The Bank of England made an impactful transfer final Thursday, June 22, 2023, because it raised the benchmark financial institution charge to five%, marking a...
Crypto Firm Abra Said to be Insolvent in Texas State Regulators’ Cease-and-Desist Order
According to an emergency cease-and-desist order from the Texas State Securities Board, the cryptocurrency agency Abra is “insolvent or nearly insolvent.” The submitting alleges {that...
Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure
Barney Frank, a former member of the U.S. House of Representatives from Massachusetts and main co-sponsor of the 2010 Dodd-Frank Act, mentioned his opinion on...
Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the corporate’s U.Ok.-based arm. The central financial institution...
NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry
On Monday, the New York Department of Financial Services (NYDFS) printed steering on custodial buildings to assist defend prospects’ cash if a crypto agency goes...
Australia Suspends Financial Services License of Local FTX Entity
Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto trade FTX till mid-May. According to an issued assertion, the...
Turkey’s Financial Intelligence Unit Launches Investigation Into FTX Collapse
The Turkish company answerable for tackling money-related crime has initiated an investigation in opposition to troubled crypto trade FTX. Days after the buying and selling...