Nevada

Cryptocurrency

Prime

Bitcoin

TrueUSD

TrueUSD (TUSD), a stablecoin backed by Binance, has issued a statement assuring its users that their funds are safe and unaffected by PrimeTrust, a cryptocurrency custodian that has suspended all deposits and withdrawals of its fiat and digital assets: 
<blockquote> 
 “PrimeTrust has suspended all fiat and digital asset deposits. TrueUSD (TUSD) is unaffected. We have no exposure to Prime Trust and maintain multiple USD sources for issuance and redemption. Rest assured, all your funds are safe with TUSD.” 
</blockquote> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 PrimeTrust has suspended all deposits of fiat and digital assets. <a href="https://twitter.com/hashtag/TrueUSD?src=hash&amp;ref_src=twsrc%5Etfw">#TrueUSD</a> (<a href="https://twitter.com/hashtag/TUSD?src=hash&amp;ref_src=twsrc%5Etfw">#TUSD</a>) is not affected by this situation. We have no exposure to Prime Trust and maintain multiple USD rails for minting and redemption. Rest assured, all your funds are safe with TUSD. 
 — TrueUSD (@tusdio) <a href="https://twitter.com/tusdio/status/1671898163039596544?ref_src=twsrc%5Etfw">June 22, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
According to an email sent to customers by PrimeTrust today, the firm received a notice from the Nevada Financial Institution Division ordering it to cease all services until further notice. The email stated that PrimeTrust is working with regulators to resolve the issue and resume operations as soon as possible. 
Related News: <a href="https://en.bitcoinsistemi.com/prime-trust-stops-withdrawals-are-tusd-assets-safe-official-statement-has-arrived/" target="_blank">Prime Trust Stops Withdrawals: Are TUSD Assets Safe? Official Statement Has Arrived!</a><a href="https://en.bitcoinsistemi.com/prime-trust-stops-withdrawals-are-tusd-assets-safe-official-statement-has-arrived/" target="_blank"> PrimeTrust, which provides custody and banking services to fintech and crypto companies, has faced financial and regulatory challenges in recent weeks. Earlier this month, another crypto custodian, BitGo, announced its intention to acquire PrimeTrust, but later terminated the deal today for reasons unspecified. In response, TrueUSD said it has no exposure to PrimeTrust and maintains multiple USD channels for the issuance and redemption of its stablecoin. The firm also said that it is taking proactive measures to protect its users' funds and maintain its role as a trusted and trusted partner in the crypto space. *Not investment advice. </a>
<a href="https://en.bitcoinsistemi.com/prime-trust-stops-withdrawals-are-tusd-assets-safe-official-statement-has-arrived/" target="_blank">The post </a><a rel="nofollow" href="https://en.bitcoinsistemi.com/prime-trust-stops-withdrawals-are-tusd-assets-safe-official-statement-has-arrived/">Prime Trust Stops Withdrawals: Are TUSD Assets Safe? Official Statement Has Arrived!</a> appeared first on <a href="https://en.bitcoinsistemi.com">Bitcoin Sistemi</a>

Prime Trust Stops Withdrawals: Are TUSD Assets Safe? Official Statement Has Arrived!

Bitcoin Sistemi EN

Other articles published on Jun 22, 2023

Bitcoin Surges Above $30,000, Boosted by Whale Activity and ETF Applications

Stacks up over 40%, ethereum is on an upward trajectory, tradecurve is up 80%

Solana’s NFT Ecosystem Thrives as Key Metrics Rise

🌐🚨 Centralization in Crisis: Will Decentralization Secure Our Digital Future?

Can Apple Vision Pro Turn Around the Metaverse Market Downturn?

Shytoshi Kusama Hints He Might Leave SHIB, Top Shiba Inu Member Shares Ways to Help SHIB

Join our free newsletter for daily crypto updates!