Lawsuit Alleges Bitcoin-Focused Financial Services Firm Used Insider Information to Avoid Losses

A Delaware bankruptcy lawsuit tied to Prime Trust’s 2023 collapse seeks nearly $1 billion from Swan Bitcoin and Electric Solidus, alleging Swan withdrew assets before Prime Trust filed for bankruptcy. The complaint cites 11,992 BTC worth about $917 million, along with $22.4 million in fiat, $5 million in stablecoins, and 91,444 XRP. The case expands the dispute by naming Electric Solidus alongside Swan and focuses on whether the pre-bankruptcy transfers should be recoverable in connection with the collapse.

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