On June 22, 2023, Bitgo, a digital assets firm and crypto custodian, declared the termination of its planned acquisition of custodian Prime Trust. The company cited a “considerable effort” in attempting to chart a course for Prime Trust’s future. Bitgo Cancels Prime Trust Acquisition A fortnight prior, Bitgo announced its intention to acquire Nevada-based crypto…
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Shortly after the custodian Bitgo announced its acquisition of the company Prime Trust, its payments subsidiary, a firm called Banq, filed for Chapter 11 bankruptcy protection in the United States. According to court documents, the filing reveals that Banq listed approximately $17.725 million in assets and around $5.4 billion in liabilities. Banq’s Bankruptcy Filing Exposes…
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In a recent development, Bitgo, the digital asset trust firm, disclosed that it has penned a letter of intent to acquire Prime Trust, a crypto custodian based in Nevada. Should the acquisition proceed, Prime Trust would become an integral part of Bitgo’s network of regulated trust companies. Bitgo Signs Letter of Intent to Acquire Crypto…
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BitGo Holdings Inc., the renowned digital asset trust and security company, has revealed plans to acquire 100% of the equity of Prime Core Technologies, Inc., the parent company of Prime Trust. The development marks a watershed moment for the Prime Trust clients, positioning them to enjoy business continuity, long-term stability, and regulated, secure solutions once…
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Should the deal go through, Prime Trust’s infrastructure will “map over 1:1” with BitGo’s services, and add another trust company and crypto IRA fund. Wallet infrastructure provider and digital asset custodian BitGo have signed a non-binding letter of intent to acquire fintech infrastructure provider Prime Trust, according to an announcement on June 8. The terms of the…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Nigeria’s Government Approves a National Blockchain Policy, CEX Trade Volumes Fall for 1st Time in 3 Months, INX Works with BitGo to Launch a Pilot Wallet Management Solution…
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On April 3, 2023, the Dfinity Foundation, a development team behind the Internet Computer (ICP) network, announced the launch of a native ICP token called “chain-key bitcoin” or “ckBTC.” The bitcoin derivative is backed 1:1 with the leading cryptocurrency asset. On Monday, Dfinity detailed that the technology “builds on the protocol-level integration with the Bitcoin…
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On Thursday, digital asset custody provider, Bitgo, announced the launch of its storage and tracking solution for Bitcoin-based Ordinal inscriptions. Moreover, users can use Bitgo’s Ordinal inscription storage system to inscribe their own inscriptions onto the Bitcoin blockchain. Bitgo’s New Solution Allows for Safe Sending of Ordinal Inscriptions Bitgo has announced a new storage solution…
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According to Mike Belshe, the U.S. SEC’s reluctance to address a “basic” regulatory issue like the issuance of a BTC ETF could have paved the way for FTX’s alleged illicit activities. The collapse of crypto exchange FTX and other bearish events in the space were at the center of discussions among lawmakers and witnesses at…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: ‘Many Existing Stablecoins Would Not Meet Coming Standards’, Fireblocks to Launch Off-exchange Service, Stellar & USDC Added to Wirex Wallet Read more »Sign up for e-EUR – the…
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