According to Wu Blockchain, Bloomberg reported that regulators in Nevada, USA, have issued a 'cease and desist' order to the crypto custody firm Fortress Trust (now renamed Elemental Financial Technologies), citing 'severe liquidity issues' that have rendered it unable to fulfill customer withdrawal requests. Court documents reveal 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 around $1 million in crypto assets remaining on its books. Back in 2023, Ripple had planned to acquire the company but withdrew the deal after it suffered millions of dollars in losses due to a hacking incident. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=50815