Prime Trust halts withdrawals and deposits as acquisition fails
BitGo ’s attempted acquisition of Prime Trust has joined the long list of Crypto buyouts that are announced and end up failing, according to a tweet from BitGo ’s Twitter account. The company recently had a lawsuit against Galaxy Digital related to a failed acquisition dismissed in court. Meanwhile, Prime Trust has had to stop both withdrawals and deposits of fiat and cryptocurrency due to action by state regulators. This acquisition was originally announced just over two weeks ago, as Prime Trust was experiencing issues and reportedly needed to delay client withdrawals. After considerable effort and work to find a path forward with Prime Trust, BitGo has made the hard decision to terminate its acquisition of Prime Trust. This decision was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets. — BitGo (@BitGo) June 22, 2023 Read more: Prime Trust delays withdrawals, spooks Binance US, Swan users amid acquisition Prime...