Blockchain firm Ripple has canceled its plans of an outright acquisition of Fortress Trust, a development that marks a significant U-turn from the former’s previous intention to purchase the company roughly three weeks earlier.
However, Ripple plans to keep supporting Fortress while stating that it will continue to be an investor in Fortress Trust’s parent company. Ripple CEO Brad Garlinghouse took to X to announce the news, stating that the outcome was different from the original plan to buy Fortress Trust. A few weeks ago, we signed a letter of intent to acquire Fortress Trust – we’ve since made the decision not to move forward with an outright acquisition, though Ripple will remain an investor in
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