Former Binance US custodian Prime Trust joins crypto’s chapter 11 club
Prime Trust has filed for chapter 11 bankruptcy following months of trouble that escalated after Binance US was sued by the SEC.
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Prime Trust has filed for chapter 11 bankruptcy following months of trouble that escalated after Binance US was sued by the SEC.
— Binance
The protective order claims that the SEC is requesting far too much information from troubled crypto exchange Binance.
Troubled crypto exchange Binance was green-lit in El Salvador, a country run by a dictator who's all in on Bitcoin and Tether.
In a Q2 earnings call, Coinbase chief Brian Armstrong unexpectedly said that USDC was stronger now that Binance has liquidated.
In May, Chinese Binance users traded $90 billion of assets, accounting for 20% of the exchange's total crypto volume.
Changpeng Zhao took to Twitter Spaces for an AMA where he spent much of his time discussing stablecoins including Tether, TUSD, and FDUSD.
Binance sources told Protos that staff were instructed to tell users in restricted locations to use the P2P marketplace and deposit crypto.
It's a 'nein' for Germany and several European countries, as regulation begins to catch up to the controversial crypto exchange.
Binance has recommended Dutch users switch to Coinmerce, an exchange which has historically acted as a broker for Binance.
As Europe closes in on Binance, the crypto exchange has told Dutch users to offload bags after failing to gain a local license.