Prime Trust Ordered into Receivership and OpenSea Halts Trading of Ether.Fi NFTs

Jul 19, 2023
Market Update Crypto markets are up today, with majors rising slightly and altcoins showing the highest returns. $BTC continues to hover around the $30k level, trading at $29.9K and up 0.44% at the time of writing. $ETH has risen 0.22%, trading at 1.9k. Altcoins are a mixed bag today, with some of them declining and others up significantly. One of the standouts is Ethereum Layer 2 Optimism ($OP), which has risen 11.04% ahead of Etheruem's EIP-4844 upgrade, which is set for sometime in the second half of 2023 or the beginning of 2024. This upgrade will significantly lower fees on Ethereum Layer 2's, such as Optimism and Arbitrum. $SOL has also performed relatively well today, up 4.1%. The dollar (DXY) has started to bounce, up 0.36%, after declining sharply over the past two weeks. Traditional markets are flat - SPX is up 0.24%, and NDQ is down 0.09%. Crypto custodian Prime Trust has been ordered into receivership by the District Court of Nevada due to a significant shortfall in customer funds and allegations of misusing client money. John Guedry, president of Bank of Nevada, will take over the company's operations. This action comes after the Nevada regulator filed to take control of Prime Trust and freeze its operations in June, alleging the firm was nearing insolvency. This

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you may have missed

U.S. equity indices are showing modest gains today following weekly jobless claims coming in higher than expected, showing 231k versus 212k estimated, putting downward pressure on the DXY 0.00% (-0.21%) and rates. The $SPY has gained 0.36%, approaching the $520 mark, while the $QQQ has risen 0.14% to the $440. Crypto assets are showing larger gains, with BTC 0.15% (+1.57%) rising above $62k and ETH 0.38% (+1.05%) surpassing $3,000. The Render Network’s mobile app, OctaneX, was featured in Apple’s keynote presentation earlier...

The crypto market declined overnight, with BTC 0.15% dropping from $63k to $61k, SOL -0.94% from $150 to $145, and ETH 0.38% dipping below the $3k mark once again. The likely cause of the drawdown was upward pressure on the DXY 0.00% and a lack of follow-through in flows. Among the few outperformers of the day were RUNE 5.69% , the native token of the cross-chain swapping protocol Thorchain, and Ethereum Classic (ETC 0.34% ), possibly driven by...

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In