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Cryptocurrency custodial business Prime Core Technologies Inc. told a Delaware bankruptcy judge it has reached a proposed settlement with Audius Inc. to establish 11 million of Audius' cryptocurrency tokens as Prime Core's property while handing over others in exchange for resolving disputed ownership of the coins with Audius.
A bankruptcy court filing showed Prime Core Technologies invested roughly $8 million in TerraUSD and ramped up spending in 2022.
John Guedry, the former chief executive of Bank of Nevada, has been appointed the receiver.
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A Las Vegas-based retail trust company that specializes in cryptocurrency had a shortfall of nearly $83 million in customer funds, regulators said.