Prime Trust to Cut Off its Workforce: Nevada Records!

The post Prime Trust to Cut Off its Workforce: Nevada Records! appeared first on Coinpedia Fintech News

According to Nevada records, Prime Trust, a crypto custody firm, may lay off 62 people in the next two months. The company had filed for bankruptcy in August and had already made deep cuts to its workforce, with only 70 full-time employees and contractors remaining as of August 14. It is unclear what percentage of the workforce the 62 workers account for. Prime Trust had allegedly engaged in dubious business practices and used customer funds to invest in the failed stablecoin project Terra. The company has not yet responded to requests for comment.