A Recap of the Prime Trust Saga
The Breakdown
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Prime Trust Receivership: What to Expect
Most major firms removed client assets from prime trust before the events of this week. A smaller Bitcoin only firm named CoinBits was not so lucky, announcing on Wednesday that their services would be suspended until they develop a solution. The big question that remains is how customers will be affected by prime trust receivership and whether any clients that pulled their funds early will be subject to clawbacks. Because trust clients retain legal ownership of their assets, they are generally allowed to withdraw without concern.
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