June 23 (Cointime) - BitGo, the US-based crypto custodian platform, has cancelled its acquisition of Prime Trust, leading to Prime Trust suspending withdrawals. The acquisition was intended to provide financial support to Prime Trust, which has been facing bankruptcy challenges. Prime Trust has also faced other challenges, including replacing its CEO and staff layoffs, and being targeted in lawsuits by crypto lending firm Celsius. TUSD issuer TrueUSD has assured its customers that it has no exposure to Prime Trust, while crypto exchange CoinMetro has had to suspend USD withdrawals as it uses Prime Trust as its payments partner.
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