Fortress Trust Ordered to Cease Operations Due to Financial Shortfall

According to Foresight News, DLNews reports that Nevada regulators have ordered the cryptocurrency trust company Fortress to halt operations due to an $11 million funding gap. CEO Anthony Botticella stated, "I only became aware of the severe financial difficulties facing the trust fund after assuming my role as CEO. These challenges stem from events that occurred before my tenure and have significantly impacted the trust fund's ability to operate as a going concern." Previously, Foresight News reported that Ripple CEO Brad Garlinghouse announced in 2023 that he decided not to proceed with the acquisition of Fortress Trust.