Prime Trust måste placeras i mottagaren: Nevada Regulator

• Nevada Financial Institutions Division lämnade in en begäran om att placera Prime Trust i konkurs. 
• Tillsynsmyndigheten utfärdade en order om att upphöra med krypton den 21 juni. 
• The firm agrees with the petition due to the “substantial deficit between its assets and liabilities.”
• The petition states that the crypto custodian is “operating in an unsafe and unsound manner.”

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The Nevada Financial Institutions Division has filed a petition with the Eighth Judicial District Court of Nevada to put crypto custodian and digital asset infrastructure provider Prime Trust in receivership after the regulator issued a cease-and-desist order against the firm on June 21 claiming that its financial condition had “considerably deteriorated.” The regulator has asked the court to appoint a receiver as well. 

I framställningen arkiveras by the Nevada regulator in the district court on June 26, the Financial Institutions Division asked for a temporary restraining order and an order appointing a receiver to Prime Trust Technologies, including the firm’s crypto business. On the other hand, the crypto firm has agreed to be placed into receivership because of the “substantial deficit between its assets and liabilities.”

The Nevada regulator asked the court to make an immediate appointment of Prime Trust with a receiver, stating that there is a risk of “irreparable harm” to customers, the public, and “confidence in the emerging market of cryptocurrency,” while adding that the company “is in an unsafe financial condition and/or is insolvent.” The regulator believes that the firm’s condition “will only progressively worsen as customers continue to withdraw,” said the petition. 

Nevada Financial Institutions Division lämnar in en framställning för att placera Prime Trust LLC i konkurs till åtta rättsliga distriktsdomstolen i Nevada. Läs hela releasen och hitta en kopia av petitionen här: https://t.co/1A1NzChBGx pic.twitter.com/78vaHKrhPu

— Nevada Department of Business & Industry (@NevadaDBI) 27 juni 2023

Ett pressmeddelande delad by the regulator via its official account on social media platform Twitter confirmed the news while noting that the crypto custodian is “operating in an unsafe and unsound manner.”

“The petition asks the court to appoint a receiver to take over the day-to-day operations of the company and thoroughly examine all its finances to determine the best option to protect Prime’s clients, either by rehabilitating and returning the company to private management or by liquidating the company,” read the release.

Tillsynsmyndigheten i Nevada noterade att Prime Trust är skyldig sina kunder runt $85 miljoner men bara har $2,9 miljoner. 

Som tidigare rapporterats av Bitnation, uppgav den populära kryptoförvaringsinstitutet BitGo att det skulle förvärva Prime Trust och avslöjade att det hade undertecknat ett terminsblad with the parent company of the crypto infrastructure provider. However, the acquisition was terminated due to rumors of the firm’s bankruptcy.

BitGos vd Mike Belshe bekräftade att hans företag hade andra förvärv på gång som skulle tillkännages under de kommande sex månaderna i en intervju med CoinDesk.

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