#primetrust — Public Fediverse posts

@JessTheUnstill interesting fact: the #Synapse partner bank where all these issues are stemming from, Evolve Bank & Trust, has a bunch of fun properties:

1. Issuer of the #FTX debit card
2. Used by George Santos and Andy Ogles to store campaign funds
3. Banking partner of #PrimeTrust, the Nevada crypto custody company that collapsed in 2023
4. Banking partner of #BlockFi, one of the crypto "banks" that went down with the good ship FTX.
5. Recently hacked by Russians
6. Recently hit with a major fed enforcement action

Also Synapse was backed in a big way by Trump loving #a16z and Marc Andreessen.

Some more details:

https://fintechbusinessweekly.substack.com/p/evolve-hit-with-fed-enforcement-action

#marcandreessen #EvolveBank #EvolvebankAndTrust #crypto #cryptocurrency #Bitcoin #ethereum #BTC

Just in case you were wondering why yes, there is a #crypto angle to the massive #TDBank money laundering scandal.

Turns out a big chunk of the fines levied by #FinCen for the massive drug money laundering facilitated by TD Bank was because "over $420 million [sent] to a financial institution offering cryptocurrency services in the high-risk jurisdiction of #Colombia."

Curious if anyone has any guesses as to what crypto company that is or was.

edit: my current guess is that the crypto company is #Kado, a Colombian company that trades crypto for cash and prepaid debit cards and uses #FortressTrust (FKA #PrimeTrust, a #Nevada company long rumoured to be connected to the italian mafia), to do (probably fake) KYC/AML.

#drugcartels #stockmarket #banking #banks #finance #moneylaundering #uspol #canada #canadapol #canadianpolitics #cryptocurrency #bitcoin #BTC #USDT #USD #crime #cartels #drugcartels #organizedCrime

Crypto Neobank Banq's Bankruptcy Case Dismissed by U.S. Judge - The filing was dismissed because a U.S. judge who called the application a "bad faith" ta... - https://www.coindesk.com/policy/2024/10/14/crypto-neobank-banqs-bankruptcy-case-dismissed-by-us-judge/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #primetrust #policy #news

🤑 George Santos and Andy Ogles, two well known pillars of virtue, held their campaign's money at the same bank that issued the #FTX debit cards, partnered with organized crime connected #crypto disaster #PrimeTrust, and can't find tens of millions of dollars of #Yotta's customers' money... #EvolveBank

details at the always excellent Fintech Business Weekly here: https://fintechbusinessweekly.substack.com/p/why-did-political-campaigns-suddenly

oh, and also: #DanFriedberg, the lawyer for FTX, #Tether, and the #UltimateBet fraud, was one of Santos's biggest donors 🤔

#moneylaundering #uspol #uspolitics #election2024 #2024Election #AndyOgles #GeorgeSantos #corruption #Synapse #Yotta #EvolvebankAndTrust #cryptocurrency #SBF #Russia #China #fintech

Crypto Custodian Prime Trust Warns It May Lay Off 62 Employees, Nevada Records Show - The company filed for bankruptcy in August. - https://www.coindesk.com/business/2023/09/19/crypto-custodian-prime-trust-warns-it-may-lay-off-62-employees-nevada-records-show/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #primetrust #bankruptcy #finance #layoffs #news

Anchorage Digital CEO Highlights 'Widespread' Self-Custody Risks After Prime Trust Bankruptcy - The collapse of crypto custodian Prime Trust in recent months has underscored the inheren... - https://cryptonews.com/news/anchorage-digital-ceo-highlights-widespread-self-custody-risks-after-prime-trust-bankruptcy.htm #anchoragedigital #blockchainnews #primetrust #custody

Ripple Acquires Crypto Financial Services Company Fortress Trust - Ripple, a leading blockchain and cryptocurrency company, has acquired Fortress Tru... - https://news.bitcoin.com/ripple-acquires-crypto-financial-services-company-fortress-trust/ #cross-borderpayments #enterprisesolutions #nevadatrustlicense #regulatorylicenses #bradgarlinghouse #cryptocurrency #fortresstrust #duediligence #receivership #scottpurcell #tokenization #acquisition #blockchain #primetrust #liquidity #finance

Remember when an idiot lost millions worth of crypt0 on a hard drive that went to the dump?
Well this time it's not the hard drive with the crypt0 that's been lost, but the 'key' to the crypt0, printed out on a "Armageddon proof" metal card.

fucking incredible....

#PrimeTrust #W3IGW

https://newsletter.mollywhite.net/i/136620313/prime-trust

Spaß mit Krypto.

Krypto-Start-up verliert Wallet-Zugriff und geht pleite.
Das Start-up #PrimeTrust hat die #SeedPhrase für eine millionenschwere #Krypto-Wallet in Stahl graviert. Verloren ging sie am Ende dennoch.

Gute Idee: Backup-Token für wichtige #Krypto-Wallets auf Stahlplatte gravieren. Schlechte Idee: Die Stahlplatte verbummeln. Das Startup #PrimeTrust ist deshalb jetzt pleite. https://winfuture.de/news,138143.html?utm_source=Mastodon&utm_medium=ManualStatus&utm_campaign=SocialMedia

Prime Trust Lost $8M in Doomed Terra Stablecoin Investment, CEO Says - A separate 2021 wallet bungle by the crypto custodian, taken into receivership in July, c... - https://www.coindesk.com/policy/2023/08/25/prime-trust-lost-8m-in-doomed-terra-stablecoin-investment-ceo-says/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #regulations #primetrust #bankruptcy #policy #news

Bitgo Secures $100 Million in Series C, Firm’s Valuation Climbs to $1.75 Billion - The digital asset trust firm Bitgo, headquartered in Palo Alto, California, has se... - https://news.bitcoin.com/bitgo-secures-100-million-in-series-c-firms-valuation-climbs-to-1-75-billion/ #potentialbuyouts #regulatorysafety #cryptocustodian #panteracapital #galaxydigital #goldmansachs #hannahmiller #acquisition #roughmarket #1.2billion #bankruptcy #mikebelshe #primetrust #regulation #bloomberg #chapter11

Prime Trust Crypto Custodian Enters Chapter 11 Bankruptcy Amid Prolonged Crypto Winter - On Monday, Las Vegas cryptocurrency custodian Prime Trust filed for Chapter 11 bankruptcy... - https://cryptonews.com/news/prime-trust-crypto-custodian-enters-chapter-11-bankruptcy-amid-prolonged-crypto-winter.htm #blockchainnews #primetrust #bankruptcy #chapter11 #nevada

From Crypto Custodian to Court: Prime Trust Files for Bankruptcy Protection - In the wake of financial upheavals and regulatory hurdles, Prime Trust, a digital ... - https://news.bitcoin.com/from-crypto-custodian-to-court-prime-trust-files-for-bankruptcy-protection/ #fiduciaryresponsibilities #financialsetbacks #specialcommittee #digitalcurrency #cryptocurrency #restructuring #stakeholders #courtfiling #liabilities #bankruptcy #disruption #insolvency #johnguedry #primetrust #withdrawal

Crypto custodian Prime Trust files for Chapter 11 bankruptcy - The crypto custodian's bankruptcy comes as it's been unable to ho... - https://cointelegraph.com/news/prime-trust-files-for-bankruptcy-delaware #customerfunds #cryptocompany #primetrust #bankruptcy #protection #chapter11 #delawre

Struggling Crypto Custodian Prime Trust Looks Poised for Potentially Massive Layoffs, Sources Say - Nevada regulators recently ordered the crypto company, which BitGo had planned to buy, to... - https://www.coindesk.com/business/2023/08/11/struggling-crypto-custodian-prime-trust-looks-poised-for-potentially-massive-layoffs-sources-say/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #primetrust #exclusive #finance #layoffs #news

Prime Trust Put Into Receivership Amid Shortfall in Funds, Charges It Used Customer Money to Buy Crypto - Crypto custodian Prime Trust has been ordered by the Eighth Judicial District Court of Ne... - https://www.coindesk.com/business/2023/07/18/prime-trust-put-into-receivership-charged-with-using-customer-funds-to-buy-crypto/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #primetrust #regulation #finance #news

Prime Trust Is Having a Bad Month - Prime Trust may be taken over by the state of Nevada, and the situation seems alarming. - https://www.coindesk.com/policy/2023/06/29/prime-trust-is-having-a-bad-month/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #stateofcrypto #regulations #newsletters #primetrust #opinion #trueusd #policy

Apparently It's Very Difficult to Custody Crypto - - https://www.coindesk.com/consensus-magazine/2023/06/29/apparently-its-very-difficult-to-custody-crypto/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #consensusmagazine #newsletters #primetrust #opinion #thenode #custody #nevada #bitgo

Prime Trust Faces Closure as Nevada Regulators Take Action – Another Bear Market Victim? - Crypto custodian Prime Trust is facing imminent closure as Nevada regulators move to shut... - https://cryptonews.com/news/prime-trust-faces-closure-as-nevada-regulators-take-action-another-bear-market-victim.htm #blockchainnews #primetrust #regulation

Biggest Movers: SHIB, MATIC Fall 5% Lower on Wednesday, Hitting 1-Week Low - Shiba inu was down by as much as 5% on Wednesday, as the meme coin slipped to a on... - https://news.bitcoin.com/biggest-movers-shib-matic-fall-5-lower-on-wednesday-hitting-1-week-low/ #technicalanalysis #federalreserve #marketupdates #primetrust #memecoin #shibainu #polygon #matic #shib

Bitcoin, Ethereum Technical Analysis: BTC Consolidates Below $31,000 Following Prime Trust Liquidation - After briefly rising above $31,000, bitcoin consolidated on Wednesday, as bulls mo... - https://news.bitcoin.com/bitcoin-ethereum-technical-analysis-btc-consolidates-below-31000-following-prime-trust-liquidation/ #marketupdates #primetrust #analysis #ethereum #bitcoin #btc #eth

TrueUSD Stablecoin Has $26k of Funds at ‘U.S. Depository Halting Withdrawals,’ Reserve Report Says - The stablecoin issuer said last week that it had “no exposure” to the failed crypto custo... - https://www.coindesk.com/business/2023/06/27/trueusd-stablecoin-has-26k-of-funds-at-us-depository-halting-withdrawals-reserve-report-says/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #stablecoin #primetrust #finance #trueusd #news #tusd

Despite Abandoning Prime Trust Deal, BitGo Eyes Other Acquisitions - After abandoning the Prime Trust deal, BitGo CEO Mike Belshe has said that there are seve... - https://cryptonews.com/news/despite-abandoning-prime-trust-deal-bitgo-eyes-other-acquisitions.htm #blockchainnews #primetrust #coinbase #bitgo

Nevada Places Crypto Custodian Prime Trust Into Receivership - Nevada's Financial Institutions Divisoin filed to appoint a receiver for crypto custodian... - https://www.coindesk.com/policy/2023/06/27/nevada-places-crypto-custodian-prime-trust-into-receivership/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #regulations #primetrust #policy #nevada #news

BitGo Still Has Acquisitions Pending After Canceling Prime Trust Purchase - CEO Mike Belshe said he sees consolidation in the crypto custody sector in the next six m... - https://www.coindesk.com/business/2023/06/26/bitgo-still-has-acquisitions-pending-after-canceling-prime-trust-purchase/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #acquisitions #primetrust #finance #custody #bitgo #news

TUSD Supply Skyrockets With 1 Billion Injection Amidst Decline in Stablecoins - Despite the decline in stablecoins due to substantial redemptions, particularly fr... - https://news.bitcoin.com/tusd-supply-skyrockets-with-1-billion-injection-amidst-decline-in-stablecoins/ #erc20-basedstablecoin #decentralizedfinance #marketcapitalization #regulatedoperator #bankingpartners #marketvaluation #redemptions #stablecoins #supplysurge #tradevolume #u.s.dollars #primetrust #topwallets #custodian

Custodian Prime Trust’s Payments Subsidiary Banq Files for Chapter 11 Bankruptcy Protection - Shortly after the custodian Bitgo announced its acquisition of the company Prime T... - https://news.bitcoin.com/custodian-prime-trusts-payments-subsidiary-banq-files-for-chapter-11-bankruptcy-protection/ #primetrustsubsidiary #unauthorizedtransfer #financialstruggles #fortressnftgroup #banqbankruptcy #assettransfer #fortresstrust #acquisition #swanbitcoin #bankruptcy #primetrust #stablecoin

TrueUSD Loses Dollar Peg Following Minting Suspension with Prime Trust - TrueUSD, a major fiat-collateralized stablecoin, has lost its peg following the announcem... - https://cryptonews.com/news/trueusd-loses-dollar-peg-following-minting-suspension-with-prime-trust.htm #altcoinnews #stablecoin #primetrust #trueusd

Bitcoin Payments Firm Strike Moves Custody In-House After Ditching Third-Party Services - The move is a “culmination of over two years of effort,” according to Strike CEO and cofo... - https://www.coindesk.com/tech/2023/06/09/bitcoin-payments-firm-strike-moves-custody-in-house-after-ditching-third-party-services/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #custodyservices #jackmallers #technology #primetrust #bitcoin #strike #news