According to former workers, Prime Trust, the troubled cryptocurrency custodian that was just ordered to suspend operations, appears to be planning possibly significant layoffs.
Some people have heard that job losses could reach 75%. The sources, who asked to remain anonymous, provided information they had learned from within the business.
The business faces significant financial and legal difficulties. After the state ordered Prime Trust to stop all operations due to a lack of customer cash and allegations that it utilised customer funds to fulfil withdrawal requests, a Nevada court recently placed the business into receivership. This took place soon after BitGo cancelled a purchase agreement for the business.The corporation reduced its personnel by one-third earlier this year
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