Most likely yes. Prime Trust is a single point of failure across the board, they are huge. They provide liquidity, custody, KYC and anti-fraud services so they are a whole workshop of tooling for Bitcoin or Crypto based startups.

I also suspect another reason Prime Trust is used is because they handle a good amount of licensing and legal issues state to state, which leads us to our current problem. Unless these exchanges have a money transmitter license or can switch out to a different provider (lmao) they have to shut down in the same regions as Prime Trust because they relied on Prime Trust's licensing to operate in that region in the first place.

So many companies are totally fucked.