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Ripple, an investor in Fortress, has stepped in to compensate Fortress customers for any incurred losses as part of the acquisition process. Ongoing discussions surround the potential acquisition of Fortress by Ripple, a cryptocurrency payment network. This unexpected development follows security issues faced by Fortress due to the compromise of a
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Blockchain firm Ripple has acquired Fortress Trust, a chartered trust company in Nevada, adding to its existing roster of regulatory licenses across multiple U.S. states. Ripple, a blockchain firm, has expanded its reach with the acquisition of Fortress Trust, a Nevada-based chartered trust company specializing in crypto and Web3 technologies. While the
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Financial technology firm Ripple is expanding its portfolio of regulatory licenses in the United States with the acquisition of Fortress Trust, according to an announcement on Sep. 8. Fortress Trust provides regulatory and technology infrastructure for blockchain organizations. The company holds a Nevada Trust license that allows it to custody financial
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A person with knowledge of the matter said the figure was less than the $250 million price tag for custody firm Metaco, which Ripple acquired in May. Source
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Qala will now rebrand to ₿trust Builders Programme and join forces with its parent company to democratize the development of open-source Bitcoin software. ₿trust, a non-profit organization committed to decentralizing the development of open-source Bitcoin software, has announced the acquisition of Qala, a leading organization training the next generation of African
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Cryptocurrency exchanges in Australia have been increasingly communicating with their users as part of preventative measures for scams. According to local crypto firms, such communication is the key to preventing scams as it is able to “break trust” between victims and scammers.Executives at major Australian crypto firms like Cointree, CoinSpot
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Some investors, however, have been purchasing GBTC shares over the last three to six months betting on a narrowing discount in case of a favorable court decision, Doug Schwenk, CEO of crypto data provider Digital Asset Research, explained in an emailed note. Source
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A separate 2021 wallet bungle by the crypto custodian, taken into receivership in July, cost it $76 million, the CEO said in a court filing. Source
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It’s been another week of mixed developments in the crypto industry, with established players winding down operations while newcomers introduce new crypto features and services. Binance’s buy-and-sell crypto arm was shut down on Aug.16, with the crypto exchange remaining under widespread regulatory scrutiny, affecting key partnerships for its operations worldwide. Crypto
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The raises comes nearly two months after BitGo ended its plan to buy beleaguered rival Prime Trust. Source
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