Prime Trust Unit Banq Files for Bankruptcy
Banq, a subsidiary of the troubled crypto custodian Prime Trust, has filed for bankruptcy in a U.S. bankruptcy court in Nevada. Banq has chosen to file for Chapter 11 bankruptcy in the Nevada division of the U.S. bankruptcy court.The company values its assets at approximately $17.72 million, while its liabilities exceed $5.4 million. The bankruptcy […]
Banq Goes Bankrupt Amid Parent Company’s Crisis
Banq, a crypto custodian Prime Trust subsidiary, has filed for bankruptcy in the Nevada District Court. Prime Trust, Banq’s parent company, is attempting to conclude an acquisition with BitGo after experiencing a financial crisis due to the Celsius bankruptcy. Banq also accuses its former executives of stealing its trade secrets and assets to launch rival NFT […]