Crypto custody firm Prime Trust lays off 62 more employees amid bankruptcy

Prime Trust has notified 62 employees they may be laid off in the next 2 months. This comes after previous layoffs at the crypto custody firm.
Prime Trust filed for bankruptcy in August, about 2 months after Nevada regulators said it couldn't meet withdrawal requests.
The company invested customer funds in failed stablecoin Terra and engaged in questionable practices.
Bids for Prime Trust's assets are due in October, so a sale may close within the 60-day layoff notice period.
It's unclear what percentage of staff the 62 employees represent, as the current headcount is unknown. Previous reports predicted major layoffs.

coindesk.com

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