The Nevada regulator stated that the crypto custody company Prime Trust has a deficit of $ 82 million and requested an immediate appointment of a trustee to the company.
Nevada Division of Financial Institutions (NDFI) to Prime Trust for the appointment of a trustee petitioned the court. Regulatory agency Prime Trust $82 million while emphasizing that the company has a deficit does not have funds to cover customer deposits and client funds lost access to some wallets He claimed.
NDFI was first June 22 Prime Trust’s become unable to pay client funds He had sent a warning notice. Then Prime Trust deposit and withdrawal transactions announced its suspension.
NFID will also prevent Prime Trust directors from accessing and moving company funds. limitations demanded.
31% of audio supply held by Prime Trust
Currently on Prime Trust $85.7 millionA cash client fund is required. However, the company has only $2.9 millionThere is a cash amount. Crypto funds that the company must hold belonging to customers $69.5 millionit corresponds to. Looking at the wallets, only about 900 thousand dollars A gap is observed. However, at this point, it should not be overlooked the concerns that the company cannot access some wallet addresses where these funds are located.
On the other hand, on-chain analytics platform Arkham Intelligence data According to Prime Trust’s largest holding of crypto assets $61 million Audius (AUDIO) forming. Looking at these numbers, the amount of tokens corresponding to 31% of the AUDIO supply is currently in the wallets of Prime Trust. In case of any setback, there are concerns that the price of AUDIO may be seriously affected.
Audius price according to CoinGecko data 24 hour in the period 8%with a decrease of approximately $0.178 dollarstraded from.