Collapse · August 14, 2023
Prime Trust files for Chapter 11 bankruptcy after Nevada receivership
Price at event
$29,409
Today
$73,594
Since then
×2.5
Crypto custodian Prime Trust (Prime Core Technologies) filed voluntary Chapter 11 petitions in Delaware on August 14, 2023, weeks after Nevada regulators forced it into receivership over a roughly $80M-to-$500M shortfall. As the unglamorous back-end custody and fiat-rails plumbing for a long list of fintech and crypto apps, its failure quietly demonstrated how one invisible custodian going dark can ripple across everyone who outsourced their plumbing to it.
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