Ripple Backs Out of Fortress Trust Acquisiton, Citing Change in Strategy

In a surprising turn of events, Ripple CEO Brad Garlinghouse announced today that the financial technology firm will not proceed with its previously planned acquisition of Fortress Trust, a Nevada-licensed financial services provider. The decision comes just 20 days after the initial announcement of the acquisition. Ripple's sudden change of heart marks a notable shift in its expansion strategy, especially in the United States. ...