- Protection Fund
  1,000 BTC Protection Fund to safeguard your assets
- Career
  Join WEEX and build the future
- WXT Zone
  Exclusive fee rates and airdrops
- Announcement Center
  Get the latest updates from WEEX
- Elite Trader
  Share strategies and earn rewards
- Crypto Wiki
  Master trading with easy-to-follow guides
- Affiliate
  Unlock exclusive perks and high commissions
- Crypto News
  Keep up with the latest crypto trends
- Contact Verifier
  Verify the channels you use
- VIP Perks
  Become a WEEX VIP today
- Events Calendar
  Explore WEEX events around the world
Buy Crypto
- header.nav.buy
  header.nav.buy_desc
- P2P Trading
  Buy crypto with 0 fees
Markets
Futures
- USDT-M Futures
  Perpetual futures settled in USDT
- Demo Trading
  USDT-M futures demo
- About Futures
  Trade with confidence
- Leaderboard
  Current & past leaderboards
Spot
Copy Trade
WE-Launch

Scan to download
More options

Nevada Issues Cease and Desist Order to Cryptocurrency Custodian Fortress Trust

By: theblockbeats.news|2025/10/26 01:15:48

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.

Giggle Academy Clarifies It Has Never Issued Any Tokens, Meme Coin GIGGLE Unaffected

Yuga Labs to Collaborate with "Buddies" Subsidiary Six Studios on Animated Series