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Prime Trust Bankruptcy Trust Sues Swan Bitcoin, Seeking Recovery of About $9.7 Billion in Assets

Prime Trust's bankruptcy litigation trust has sued Swan Bitcoin in the U.S. Bankruptcy Court for the District of Delaware, seeking the return of roughly $9.7 billion worth of bitcoin, cash and other digital assets, ME News reported on May 18 (UTC+8). The complaint alleges that during the 90 days leading up to Prime Trust's bankruptcy filing, Swan withdrew around 12,000 bitcoin, $24.66 million in cash, about $5 million in stablecoins, along with a quantity of XRP. Swan argues the assets are held in client trust and should be excluded from the bankruptcy estate. (Source: MLion)
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