Judging by the hole in their balance sheet, it seems to be north of $80M. On the other hand it could be much less in #bitcoin terms - it’s not hard to imagine they’ve made some bad trading decisions.
Prime Trust Misplaced Access to Legacy Wallets, Used Client Money for #Bitcoin Repurchases
As it turns out, Prime Trust had trouble accessing its legacy wallets as far back as 2021. To make matters right, they dipped into their customers' funds to repurchase bitcoin, ensuring that those redemptions were honored.
Prime owes $85+ Million but only has $2.9 Million in fiat.
Self-custody or get rekkt!
#news
Document: https://www.docdroid.net/Q5WNMMS/prime-core-technologies-et-al-petition-pdf#page=6
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