{"id":79985,"date":"2023-06-09T15:19:31","date_gmt":"2023-06-09T12:19:31","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79985"},"modified":"2025-09-11T14:08:39","modified_gmt":"2025-09-11T11:08:39","slug":"bitgo-to-acquire-crypto-custodian-prime-trust","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitgo-to-acquire-crypto-custodian-prime-trust\/","title":{"rendered":"BitGo to Acquire Crypto Custodian Prime Trust"},"content":{"rendered":"

BitGo, the custodian, signed a letter of intent to acquire<\/a> 100% of Prime Core Technologies, of which the cryptocurrency custodian Prime Trust is a part.<\/p>\n

Representatives said the deal would ensure \u201cbusiness continuity, long-term stability and regulated, secure solutions\u201d for clients.<\/p>\n

Terms of the agreement were not disclosed. According to CoinDesk<\/a>, the deal still requires regulatory approval.<\/p>\n

\n

\u201cNo other company will have products, services or such deep expertise as this combination. We are pleased to offer world-class infrastructure within a broader ecosystem and to build the future of the crypto industry,\u201d said Jor Low, CEO of Prime Trust.<\/p>\n<\/blockquote>\n

Founded in 2016 in Las Vegas, Nevada, Prime Trust specializes in providing developer tools and APIs, including for payments, compliance, liquidity, settlements and custody of digital assets.<\/p>\n

In June 2022, Prime Trust raised $107 million<\/a> to develop the business, despite the bear market.<\/p>\n

In August 2022, the custodian found itself embroiled in a legal battle with the bankrupt Celsius Network<\/a>, which demanded the return of approximately ~$17 million<\/a> in digital tokens.<\/p>\n

Earlier in the same month, Galaxy Digital, Mike Novogratz’s crypto trading bank, refused<\/a> to acquire BitGo. Later, the latter filed suit<\/a> against the aborted partner, alleging a \u201crushed\u201d exit from the deal.<\/p>\n","protected":false},"excerpt":{"rendered":"

BitGo, the custodian, has signed a letter of intent to acquire 100% of Prime Core Technologies, which includes the cryptocurrency custodian Prime Trust.<\/p>\n","protected":false},"author":1,"featured_media":79986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[194,2226],"class_list":["post-79985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitgo","tag-prime-trust"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=79985"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79985\/revisions"}],"predecessor-version":[{"id":79987,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79985\/revisions\/79987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/79986"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=79985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=79985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=79985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}