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Blockspace: Prime Bankruptcy Trust Sues Strike Parent Co for $150M, NAKA’s Reverse Stock Split, SEC Tokenized Stock Framework

CoinDesk Podcast Network

CoinDesk

News, Business News, Tech News, Daily News

4.7698 Ratings

🗓️ 21 May 2026

⏱️ 82 minutes

🧾️ Download transcript

Summary

Prime’s bankruptcy trust is suing Strike’s parent company for ~$150 million in clawbacks, and Nakamoto (NAKA) moves forward with its reverse stock split. Welcome back to The Blockspace Podcast! Today, we cover the latest in the Prime Trust bankruptcy saga, as the bankruptcy trust from Prime is suing Zap Solutions (Strike’s parent company) for nearly $150M in clawbacks. We also welcome Kush Bavaria of Ornn to discuss the company’s forthcoming AI compute futures in a partnership with the Intercontinental Exchange, and Alexander Leishman of River Financial joins to talk about the Prime Trust suit and proof of reserves. For our final guest, Clenn Cameron of On Ramp joins to discuss the company’s $12.5M series A. And to round out the news, we break down Nakamoto's reverse stock split to avoid Nasdaq delisting, and the SEC's upcoming framework for tokenized equities. Check out our latest report, “What’s a Megawatt Worth?” where we quantify the trillion dollar opportunity for bitcoin miners venturing into the AI sector. Download here: https://megawattreport.com/ Subscribe to our newsletter to receive updates for all of our shows and content: https://newsletter.blockspacemedia.com 👉CleanSpark (Nasdaq: CLSK), a market-leading data center developer with a proven track record of success. 👉Luxor, Blockspace's preferred mining pool. Start hashing today with Luxor! 👉Lygos Finance, Borrow against your Bitcoin, without compromising on custody.

Transcript

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0:00.0

What's going on, y'all?

0:06.3

Welcome back to Blockspace Live coming at y'all fresh on this Wednesday.

0:10.3

Charlie, it is the sad violin edition of Blockspace Live.

0:14.5

We have got some pretty unfortunate stories.

0:18.4

Very important, though.

0:19.6

We're going to start off with the Prime

0:22.4

Trust suing ZAP Solutions strikes parent company for nearly $150 million in assets tied

0:30.6

to flows that were made from Prime to strike right before the company went bankrupt.

0:37.3

After that, we have Cush Bavaria back on to talk about Oren's partnership with the

0:43.4

International Continental Exchange for Compute Futures, a kind of follow-up from his segment

0:48.2

last week.

0:49.1

Then we also have Alexander Leashman of Riveron to talk about the Prime Trust debacle because there are a lot of

0:56.3

companies that Prime is trying to claw money back from. So more on this. In that interview,

1:01.8

we also have Glenn Cameron of Oneramp to talk about their Series A and also to talk on the

1:07.2

Prime Trust thing. Because if you got the CEO of an exchange,

1:11.5

we've also got executives from an institutional custody platform.

1:15.9

You got to be talking about what happened with this whole prime trust thing.

1:19.6

After that, for our second story of the day, we will be covering Nakamoto's reverse stock split.

1:24.8

That's right.

1:25.4

They are going to dodge a bullet from a, from a NASDAQ de-listing by splitting their stock 40 to 1.

1:31.3

And we will wrap up with news that tokenized equities are coming sooner rather than later as the SEC prepares a framework that should drop this week.

1:41.6

That's right. The bear market groundhog woke up and saw his shadow six more

...

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