Ripple Abandons Fortress Trust Acquisition

Ripple has decided not to move with the acquisition of Fortress Trust even though they had previously announced their intentions to expand their US licenses pool just 20 days ago. Brad Garlinghouse, the CEO of Ripple shared this decision on X (formerly known as Twitter) on September 28. While they have chosen not to go through with an acquisition Ripple plans to maintain its ownership in the parent company of Fortress Trust called Fortress Blockchain Technologies.



The initial announcement of the purchase on September 8 surprised people, including those within Ripple itself as reported by Cointelegraph. The plan had included investments in other companies associated with Fortress, such as FortressPay.



Shortly after the acquisition news broke Fortress Trust admitted that they had rushed into the deal following a security breach


First found on: https://coinatory.com/cryptocurrency-news/ripple-abandons-fortress-13706/?utm_source=BG&utm_medium=Blogger+Some+Crypto+Blog&utm_campaign=SNAP