Prime Trust bankruptcy spotted by crypto community months ahead By Cointelegraph

Crypto custodian Prime Trust filed for Chapter 11 bankruptcy in the United States state of Delaware on Aug. 14 after reporting shortfalls in customer funds. Prime Trust said it’s working with 25,000 to 50,000 creditors and has liabilities of up to $500 million.

Although the news of the company’s financial instability broke mid-way through August, members of the crypto community months had already flagged the company’s shaky position weeks before the filing.