NFT News by Thebittimes.Com

On Sep. 28, in a post on X, Brad Garlinghouse, the CEO, revealed that Ripple has chosen not to acquire Fortress Trust. Instead, they will continue to be an investor in the blockchain-based payment network. 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 @Fortress_io. — Brad Garlinghouse (@bgarlinghouse) September 28, 2023 The blockchain firm behind On-Demand Liquidity (ODL), a solution using XRP, decided not to proceed with the acquisition following a hack that saw Fortress Trust lose between $12 to $15 million in Bitcoin (BTC), USDT, and USDC, on Sep. 12.  Today, we are announcing intent to acquire Fortress Trust, part of the @Fortress_io suite of companies. Fortress Trust’s financial and regulatory infrastructure complements and expands Ripple’s comprehensive portfolio of blockchain solutions for finance. https://t.co/LIl3cP...

It’s been a turbulent last few weeks for the banking industry, including Credit Suisse. Many banks solvencies are in question. The Financial Times reported that a potential buyout deal between Credit Suisse and UBS has been made. UBS has been negotiating with Credit Suisse over the weekend concerning the buyout. It seems that a deal has finally been reached. According to reports, UBS will purchase Credit Suisse for over $2 billion . JUST IN: UBS to acquire Credit Suisse $CS for over $2 billion , one of the largest banks in the world. — Watcher.Guru (@WatcherGuru) March 19, 2023 Twitter Credit Suisse & UBS Acquisition Details Credit Suisse and UBS are two of Switzerland’s largest banks. Those familiar with the matter state that the deal could be signed as soon as Sunday evening. Furthermore, the deal could be priced around only a fraction of what Credit Suisse’s closing price was on Friday. This move is speculated to potentially negatively affect Credit Suisse’s shareholders....