Prime Trust’s financial condition is “critically deficient” and the crypto custodian has been unable to honor customer withdrawals since June 21, according to Nevada’s business regulator.

In a June 21 cease and desist order, Nevada’s Department of Business and Industry claimed Prime Trust’s financial condition ha”considerably deteriorated” and the firm is now in an “unsafe or unsound condition” to continue business:

Statements made by the Nevada Department of Business and Industry against Prime Trust. Source: Nevada Government