- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
WE-Launch
Nevada Issues Cease and Desist Order to Cryptocurrency Custodian Fortress Trust
BlockBeats News, October 26th, according to Bloomberg, the regulatory agency in Nevada, USA issued a "cease and desist order" to the crypto custodian Fortress Trust (now renamed Elemental Financial Technologies), stating that its liquidity was "severely insufficient" and it was unable to fulfill customer withdrawal obligations.
Court documents show that Fortress owes customers over $8 million in fiat currency and $4 million in crypto assets, with only less than $200,000 in cash and about $1 million in crypto assets left in its accounts. As early as 2023, Ripple had planned to acquire the company, but withdrew from the deal after losing millions of dollars in a hacking incident.
You may also like
Gainers
Latest Crypto News
「Whale」 Ethereum Multi-Step again Partially Liquidated, Account Balance Fell Below $270,000
Cryptocurrency Fear and Greed Index Drops to 24, Market Enters "Extreme Fear" Mode Again
「Cool-headed King of Shorting」 entered a new MON short position, earlier this morning closed a long position on BTC and SOL before reversing to open a short position
In the past 4 hours, the entire network has seen $435 million in liquidations, with longs accounting for $424 million of the total.
「CZ's Countertrade」 Long Position's Unrealized Loss Expands to $26 Million, Now the Largest Long on Hyperliquid for ETH and XRP
Customer Support：@weikecs
Business Cooperation：@weikecs
Quant Trading & MM：bd@weex.com
VIP Services：support@weex.com
App