Crypto Company Ripple Backs Out of Fortress Trust Purchase

From bnnbloomberg.ca

Less than a month after Ripple said it had agreed to acquire custodian Fortress Trust, the crypto company is backing out of the deal. “While this outcome is different from what was originally planned, we’ll continue to support them and hope to work together in the future!” Ripple Chief Executive Officer Brad Garlinghouse wrote in a post on X, the platform formerly known as Twitter. Ripple will remain an investor in Fortress Financial Technologies, the parent of the Nevada-based chartered trust company, Garlinghouse said in the post on X. Ripple said on Sept. 8 that it intended to acquire Fortress Trust, which ... (full story)