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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.

Binance seeks to shield execs from SEC in protective order

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.