BitGo shared that it had arrived 'at the hard decision to terminate its acquisition of Prime Trust' after much consideration.
On June 22, wallet infrastructure provider and digital asset custodian BitGoon Twitter that it had decided to cancel its acquisition of fintech infrastructure provider Prime Trust. According to BitGo, “This decision was not made lightly.” The full announcement read:
“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’s deal cancellation comes merely two weeks after it shared its non-binding letter of intent to acquire Prime Trust. Although the specific details of the agreement were not disclosed, the potential acquisition between BitGo and Prime Trust was poised to provide BitGo with access to Prime Trust's payment rails and cryptocurrency IRA fund, and the opportunity to broaden its wealth management services.
Additionally, integrating Prime Trust's Nevada Trust Company into BitGo's network of regulated trust companies across various jurisdictions would have marked a significant expansion for the company. Unconfirmed rumors on Twitter speculated that the deal may have been called off due to a cease and desist order Prime Trust allegedly received from Nevada State regulators. However, these rumors could not be verified at this time.PRIME IS HALTING ALL WITHDRAWALS OF FIAT AND CRYPTO EFFECTIVE IMMEDIATELY.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
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.
Les mer »
Crypto Custody Firm BitGo Cancels Prime Trust AcquisitionPrime Trust has been losing clients and deposits to competitors for weeks amid mounting concerns over its business, a source at one former client told CoinDesk.
Les mer »
Elon Musk scheduled to meet Indian Prime Minister Modi on TuesdayMusk and Modi are expected to discuss Tesla's ambitions in the country, setting up a manufacturing base and possible incentives for battery production.
Les mer »
Amazon Prime Day kicks off July 11th this year | EngadgetAmazon Prime Day 2023 will be on July 11th and 12th.
Les mer »
Amazon Prime Day 2023 will take place on July 11th and 12thBlack Friday in July is back.
Les mer »
Order Snacks Online: Our Prime Day Faves - Today's ParentLove to order snacks online? Us too! Here are our favorites steals from this year's Prime Day.
Les mer »