The crypto custodian Prime Trust has laid off one-third of its employees

ChainCatcher news, two insiders said that to cut costs, the crypto custodian Prime Trust laid off one-third of its staff on Tuesday. The layoffs primarily affected employees in the communications and compliance departments.
Previous report indicated that Prime Trust has personal financial ties with FTX executives, with SBF holding tens of millions of dollars in assets at the company and making donations to political campaigns. Last week, Prime Trust announced it would suspend its business operations in Texas by January 31, after the company withdrew its application for a money transmission license (MTL) in the state. (CoinDesk)