Ripple CEO Drops Acquisition Bombshell: Fortress Trust Deal Off The Table
In a surprising turn of events, Ripple CEO Brad Garlinghouse announced that the company has decided to abandon its direct acquisition of financial institution Fortress Trust. The decision marks a significant departure from Ripple’s earlier intention to acquire the firm, as they had signed a letter of intent just a few weeks ago. However, Garlinghouse […]
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Ripple, a prominent cryptocurrency firm, has announced its acquisition of Fortress Trust, a financial institution that offers Web3 financial, regulatory, and technology infrastructure for blockchain innovators. With a focus on providing back-end infrastructure for payments, asset tokenization, and other services, Fortress Trust serves a wide range of clients, from Fortune 500 businesses to fintech startups, […]
Fortress Investment Group purchased $20m worth of bitcoins last year, according to a recent filing with the SEC. Back in December it was rumoured that Fortress had plans to launch a bitcoin investment fund. The news was first reported by CNN, but it could not be confirmed until now. Fortress is said to be developing a new investment vehicle based on bitcoin which is expected to be an unlisted Exchange Traded Fund (ETF). The move appears to have been connected to San Francisco-based Pantera Capital. Pantera then registered an investment advisor entity called Pantera Bitcoin Advisors LLC and....
New York City-based Fortress Investment Group, a publicly traded company, is reportedly planning to launch a bitcoin investment fund. It's being reported that the investment vehicle may be an unlisted Exchange Traded Fund (ETF). It appears that there might be some association between Fortress's effort and that of San Francisco-based Pantera Capital. Pantera, which has as clients some Fortress executives, has filed with the Securities and Exchange Commission (SEC) an investment advisor entity called Pantera Bitcoin Advisors, LLC. The filing shows Pantera Capital as the owner of the LLC,....
Bitcoin traders have begun recovering from Thursday's bombshell indictments by U.S. regulators against the BitMEX exchange's co-founders.
In an interview with Fortune’s Andrew Nusca, Ripple CEO Brad Garlinghouse provided an overview of the company’s strategic roadmap, their cautious approach to an initial public offering (IPO), and Ripple’s competitive edge over the traditional SWIFT network. A Ripple IPO Currently Not On The Table Garlinghouse was forthright about Ripple’s decision to hold off on […]