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BitGo Scraps Acquisition of Prime Trust, Leaving Customers in Limbo.

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Source: CoinDesk
BitGo Scraps Acquisition of Prime Trust, Leaving Customers in Limbo.
Photo: CoinDesk
TL;DR Summary

Cryptocurrency custodian BitGo has cancelled its acquisition of rival Prime Trust after "considerable effort and work to find a path forward with Prime Trust." Prime Trust has been losing clients and deposits to competitors for weeks amid mounting concerns over its business. BitGo was almost bought by Galaxy Digital until the $1.2bn deal was cancelled in August.

Topics:business#acquisition#bankruptcy#bitgo#crypto-exchanges#cryptocurrency#prime-trust
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  1. Crypto Custody Firm BitGo Cancels Acquisition of Rival Prime Trust  CoinDesk
  2. BitGo terminates plans to buy Prime Trust  Blockworks
  3. Prime Trust halts withdrawals and deposits as acquisition fails  Protos
  4. It’s ‘going to be a struggle’ for customers of Binance-linked Prime Trust after BitGo terminates acquisition plan  Fortune
  5. BitGo backs out of deal to acquire Prime Trust  CryptoSlate
  6. View Full Coverage on Google News

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