Custodian BitGo has just announced it will not buy cryptocurrency storage company Prime Trust.
According to the statement shared by the company:
“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.”
Prime Trust, which was founded back in 2016 in Las Vegas, Nevada, specializes in providing developer tools and APIs, including payment, compliance, liquidity, settlement and custody systems for digital assets. There are about 700 fintech and crypto projects among the company’s clients.
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In June last year, Prime Trust raised $107 million to grow the business in spite of the bear market.
In August of the same year, the custodian was involved in a legal battle with bankrupt crypto lending platform Celsius Network, which demanded the return of approximately $17 million in digital tokens.
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Earlier this month, BitGo signed a preliminary agreement to buy 100% of the shares of Prime Core Technologies, which includes Prime Trust.
Источник: ru.ihodl.com
