Nevada Seeks Receiver for Troubled Crypto Firm Prime Trust (2)

Nevada has asked a federal court to appoint a receiver for Prime Trust, alleging that the custodian used customer funds to buy cryptocurrencies after losing access to digital wallets containing tens of millions of dollars in assets.

The 30-page receivership petition filed Monday demands an immediate impounding of all assets of Las Vegas-based Prime Trust, as well as its documents and records. It also asks the court to enjoin Prime, including its officers and agents, from touching any of the company’s funds. The Nevada Financial Institutions Division had ordered Prime Trust to halt all deposits of fiat and digital assets ...