#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

🤑 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

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

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

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

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

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

Signature Bank, FTX, and TrueUSD: A Tale of Questionable Judgement

A timeline of the intermingled histories of #FTX, #Binance, and their banking partners #SBNY and #Silvergate (#SI).

#TrueUSD #BUSD #PrimeTrust #Stablecoin #Bank
https://cryptadamus.substack.com/p/signature-bank-ftx-and-trueusd-a