Entering turbulent period with stablecoin problems prime trust, Chapter 11filed for bankruptcy protection.
Crypto startup going through tough days prime trust, Chapter 11knocked on his door. The BlockAccording to the news of , a statement came from the company last night. prime trustannounced that the company, along with its subsidiaries, has filed for Chapter 11 bankruptcy protection.
Prime Trust files for bankruptcy protection
Las Vegasbased crypto organization Prime Trust, Bankruptcy Court for the U.S. District of Delaware‘to Chapter 11filed for bankruptcy protection.
Prime Trust In the statement from , it was stated that the transactions were carried out under the supervision and control of a special committee. The company described its filing for bankruptcy protection as an effort to evaluate strategic alternatives.
Crypto company file, estimated liabilities 100 million to 500 millionIt shows that in dollars. Prime TrustIf the estimated value of the assets of 50 million to 100 millionbetween dollars.
Prime Trust‘s statements regarding the bankruptcy protection application, include the following details;
“The Company plans to file a series of petitions with the Bankruptcy Court designed to facilitate regular consideration of all strategic alternatives, including the potential sale of the Company’s assets and operations.”
The company showed this application as an effort to continue to pay wages and pay the wages of its employees.
