Not sure what Odell knows. From public info maybe it has to do with PT.

https://www.coindesk.com/policy/2023/06/27/nevada-places-crypto-custodian-prime-trust-into-receivership/

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It’s unprecedented to have funds in legally segregated trust accounts clawed back. That’s the whole point of a trust company. It segregates business operations from client funds.

Who is PT’s replacement?

Fortress Trust for legal custody and BitGo for physical custody.

We’re working to increase redundancy, including building out our own compliance and settlement.