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...

The entire crypto -verse was surprised after the Securities and Exchange Commission [SEC] slapped Ripple with a lawsuit for allegedly selling “unregistered sec urities.” Time and again, the firm asserted that XRP wasn’t a sec urity. Almost two years and multiple turns later, the case was expected to reach a conclusion in the first half of 2023. Now, a prominent exchange had come in support of the firm. In a series of tweets, Coinbase’s chief legal officer, Paul Grewal revealed that the platform extended a plea to Judge Torres to file for its amicus curiae brief. JUST IN: #Coinbase files request to support # Ripple in its lawsuit against the SEC. — Watcher.Guru (@WatcherGuru) October 31, 2022 Detailing the reason behind Coinbase’s intention to file an amicus brief, Grewal tweeted, “Our point is pretty simple: this is a textbook case of just how critical fair notice is any reasonable notice of due process under law.” ...