Prime Trust Put in Receivership, Reports $82M Deficit: What’s Next?

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• Nevada seeks to put Prime Trust into receivership, reports an $82 million deficit.
• EDX Markets reportedly drops Paxos as planned custodial partner.
• Robinhood lays off 7% of workforce on same day as Cardano, Polygon, and Solana delisting.

Nevada Requests Prime Trust to be Put in Receivership

Nevada has asked for the financial services company Prime Trust to be placed into receivership due to an $82 million deficit. This announcement follows news that EDX Markets has dropped Paxos as its planned custodial partner.

Robinhood Cuts Workforce

On the same day that Cardano, Polygon, and Solana were delisted from Robinhood, the stock trading platform announced a 7% reduction in its workforce.

Leveraged Bitcoin Futures ETF Opens for Trading on CBOE

The first ever leveraged Bitcoin futures exchange-traded fund (ETF) opened for trading on the Chicago Board Options Exchange (CBOE). This marks a major milestone for retail investors looking to gain exposure to cryptocurrency markets without having to buy digital assets directly.

Switzerland Seizes Funds Tied to Do Kwon and Terra

In another recent development related to cryptocurrency, Switzerland seized funds amounting to $26 million believed to be associated with Do Kwon and Terra. This is part of an ongoing investigation into these individuals’ possible involvement in money laundering activities involving digital currencies such as Bitcoin.

zkSync Launches zkStack

zkSync announced the launch of ZKstack: A major leap forward for Zero-Knowledge technology. This offers a free, composable, modular “battle-tested” and “future-proof” platform designed to serve as a foundation for Zero Knowledge development. The release of zkStack reaffirms zkSync’s commitment towards advancing personal freedom through harnessing the magic of ZK tech globally.