The move comes mere days after fellow custodian BitGo called off its bid to acquire Prime Trust, and follows a Nevada cease-and-desist order which alleged Prime Trust was near insolvency. Tuesday’s order states that Prime Trust owes its clients north of $85 million in fiat, and has about $3 million in fiat currency on hand. The company owes a further $69.5 million in crypto, and has $68.6 million on hand, the filing said.
Does the SAB 121 Vote Mean Anything for Future Crypto Legislation?
Unfortunately however, the legislative measure is now heading to the desk of President Joseph Biden, who has vowed to veto...