Ripple Pulls Out of Fortress Acquisition After Security Breach, Remains Investor

Ripple announced acquisition of Fortress Trust but pulled out 20 days later, though remains an investor.
Fortress lost $12M-15M in a security breach; Ripple stepped in to make customers whole.
Fortress CEO said cancelation is unrelated to security breach.
Ripple declined to comment beyond CEO's social media post on cancelation.
As deal collapsed, Swan Bitcoin no longer involved in Ripple's U.S. business.

cointelegraph.com

Relevant topic timeline:

9/8/2023

Ripple Acquires Trust Company Fortress to Expand Regulatory Footprint

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