News Formal

Crypto Custody Firm BitGo Cancels Prime Trust Acquisition

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

BREAKING: BitGo cancels plan to buy Prime Trust. By JamieCrawleyCD.

Cryptocurrency custodian BitGo has terminated its acquisition of rival custody specialist Prime Trust.

BitGo made the decision after"considerable effort and work to find a path forward with Prime Trust," the firm"This decision was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets," BitGo added. Prime Trust has been losing clients and deposits to competitors for weeks amid mounting concerns over its business, a source at one of the former client told CoinDesk.following speculation that the Nevada-regulated custodian was facing bankruptcy.Adds additional paragraph about Prime Trust losing clients and depositors and adds second byline.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BitGo says it's terminating acquisition of Prime TrustBitGo said Thursday that it's terminating the acquisition of crypto custodian Prime Trust, just two weeks after it announced plans for the deal.
Source: TheBlock__ - 🏆 464. / 53 Read more »