Crypto Custodian Prime Trust Agrees to Return $17M in Tokens to Bankrupt Lender Celsius

Bankrupt Crypto Lender Celsius Sues Prime Trust Over $17M in Tokens

Celsius had sued Prime Trust in August, alleging that Prime Trust had improperly withheld the tokens when the two terminated their contract in June 2021. The assets, made up of 398 BTC, 196,268 CEL tokens, 3,740 ETH and 2.2 million USDC valued at roughly $17 million, were tied to Celsius’ yield product customers in Washington State and New York. Prime Trust held $119 million of Celsius’ assets at the time the contract was ended.

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