{"id":23764,"date":"2023-09-29T05:33:38","date_gmt":"2023-09-29T05:33:38","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ripple-abandons-acquisition-plans-for-fortress-trust\/"},"modified":"2023-09-29T05:33:38","modified_gmt":"2023-09-29T05:33:38","slug":"ripple-abandons-acquisition-plans-for-fortress-trust","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ripple-abandons-acquisition-plans-for-fortress-trust\/","title":{"rendered":"Ripple Abandons Acquisition Plans for Fortress Trust"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Brad Garlinghouse, the CEO of Ripple, recently disclosed that the business has decided against acquiring Fortress Trust, a company that provides crypto custodian services. Garlinghouse did declare that Ripple will continue to be an investor in Fortress Trust, despite the fact that no particular justifications for this choice were given.<\/p>\n

A Change in Course for Ripple<\/strong><\/p>\n

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The initial excitement about the potential acquisition of Fortress Trust began in September 2023, when Ripple signed a letter of intent to purchase the financial services company registered in Nevada. Fortress Trust has attracted Ripple\u2019s interest because to its technology and background. Scott Purcell, a former CEO of the now-defunct crypto custodian Prime Trust, currently serves as the CEO of Fortress Trust.<\/p>\n

In order to further Ripple\u2019s commercial goals, Garlinghouse, the company\u2019s CEO<\/a> at the time, showed the company\u2019s enthusiasm by saying that they were excited to incorporate Fortress Trust\u2019s people and technology.<\/p>\n

The Decision to Withdraw<\/strong><\/p>\n

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However, Garlinghouse recently disclosed on the social media network X that Ripple has made the decision not to go forward with the transaction as first intended. Despite this shift in strategy, Ripple still plans to keep investing in Fortress Trust.<\/p>\n

Garlinghouse praised the Fortress team\u2019s exceptional expertise while highlighting their capacity to create solutions that really meet the demands of actual customers. Even if the acquisition\u2019s conclusion was altered, he expressed hope about the prospect of working with Fortress Trust in the future.<\/p>\n

Ripple\u2019s decision to back out of the purchase transaction signals a change in the company\u2019s strategic direction, even though the exact reasons why are yet unknown. Since Fortress Trust continues to get backing from Ripple and there is a chance that there will be future collaboration, it is possible that the two organizations may look into other opportunities for cooperation in the developing cryptocurrency industry.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Brad Garlinghouse, the CEO of Ripple, recently disclosed that the business has decided against acquiring Fortress Trust, a company that provides crypto custodian services. Garlinghouse did declare that Ripple will continue to be an investor in Fortress Trust, despite the fact that no particular justifications for […]<\/p>\n","protected":false},"author":34,"featured_media":23765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23764"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23764"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23764\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23765"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}