The Nevada state court approved the regulatory agency's bankruptcy takeover of Prime Trust.

According to BlockBeats news on July 19th, a judge in the Nevada state court has approved a petition for regulatory authorities to take over Prime Trust in bankruptcy. The regulatory agency's statement shows that the judge subsequently ordered Prime Trust to appear in court on August 22nd to explain why the regulator's application should not be permanently approved. As previously reported by BlockBeats, Prime Trust owes clients $85.67 million in fiat assets, but only holds $2.904 million in cash. Prime Trust owes clients $69.509 million in digital assets, but only holds around $68.648 million in digital assets.