Coinbase Files Amicus Brief To Protect Customers In Prime Trust Bankruptcy

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Coinbase Files Amicus Brief To Protect Customers In Prime Trust Bankruptcy - CoinGape

Quick Summary:

Coinbase has submitted an amicus brief in the ongoing bankruptcy case of Prime Trust, urging the court to uphold legal protections for customer assets held by custodians.

Paul Grewal, Coinbase’s Chief Legal Officer, announced the filing on social media, emphasizing that customer assets should not be absorbed into a custodian’s bankruptcy proceedings.

He urged the court to reinforce these protections in the Prime Trust bankruptcy case, aligning with past court rulings that have upheld UCC Article 8.