Ripple Withdraws From Fortress Acquisition; Hand-Picked For NBG List
Portfolio Pulse from Khyathi Dalal
Ripple has withdrawn from its planned acquisition of Fortress Trust, but will remain a shareholder in the parent company, Fortress Blockchain Technologies. The deal was initially intended to expand Ripple's license pool in the U.S. and invest in other Fortress group companies. Meanwhile, Ripple Labs has been included in the National Bank of Georgia's exclusive list for its second Central Bank Digital Currency pilot venture. This has led to notable gains in price and volume for XRP.

September 29, 2023 | 7:30 pm
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NEGATIVE IMPACT
Fortress Trust lost funds in a security incident, with most of the funds being Bitcoin, followed by USDC and Tether.
The security incident at Fortress Trust, which resulted in the loss of funds including USDC, could potentially impact the confidence of investors in the security of digital assets, leading to a potential short-term negative impact on the price of USDC.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Fortress Trust lost funds in a security incident, with most of the funds being Bitcoin, followed by USDC and Tether.
The security incident at Fortress Trust, which resulted in the loss of funds including Tether, could potentially impact the confidence of investors in the security of digital assets, leading to a potential short-term negative impact on the price of Tether.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Ripple's inclusion in the NBG's CBDC pilot venture list has led to a rise in price and volume for XRP.
Ripple's inclusion in the National Bank of Georgia's exclusive list for its second Central Bank Digital Currency pilot venture has led to increased interest and investment in XRP, leading to a rise in its price and trading volume.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100