CRYPTO COMPANY RIPPLE BACKS OUT OF FORTRESS TRUST PURCHASE

Summary from the TLDR Crypto newsletter

Ripple has decided not to proceed with its previously announced acquisition of custodian Fortress Trust following a security breach at a third-party service used by six of Fortress's customers that resulted in a reported loss of $12-$15 million in cryptocurrency. Despite the terminated deal, Ripple will remain an investor in Fortress's parent company, Fortress Financial Technologies.