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Bitcoin.com 2023-06-29 17:30:28

Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes

The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsibilities, Nevada’s financial regulators mandated the closure of Prime Trust. Despite these challenges, Coinbits maintains confidence that the custodian “still has enough bitcoin

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