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Scott Purcell has resigned as chief exec (CEO) of Fortress Trust after its proposed acquisition by Ripple fell apart, Fortune has reported. Rich Hauschild, who was previously chief operating officer at iTrustCapital, will succeed him.  Fortress Trust recently suffered a third-party vendor hack, leading to a statement in which it claimed that “there is no loss of funds.” Ripple , at the time of the acquisition, disclosed that there was actually a loss of funds, noting that it was “in a position to act quickly to step in and make customers whole.” Fortress Trust says ‘no loss of funds’ as its customers’ crypto was stolen However, the acquisition fell apart weeks later, with Ripple CEO Brad Garlinghouse claiming that “the Fortress team is incredibly talented,” but despite this talent, the acquisition just didn’t make sense anymore . Purcell has a complicated history in the crypto industry, having previously served as...

The SEC has already dismissed charges against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, while the retail XRP sale ruling also went against the regulator. The United States Securities and Exchange Commission (SEC) has a very slim chance of winning the appeal against Ripple in the ongoing lawsuit, according to lawyer Bill Morgan, who has been closely following the lawsuit. Morgan in a post on X (formerly Twitter) argued that there is no obvious appellable error other than in “Ripple’s favour regarding ODL sales which don’t meet at least two prongs of the Howey test,” while adding there is a very slim chance of about 3% for SEC’s success in getting an appeal against Ripple. I don’t see any obvious appellable error other than in Ripple’s favor in respect of ODL sales which don’t meet at least two prongs of the Howey test. The SEC’s prospects of success on appeal are very slim and I feel generous today so I am giving it 3% chance of success on appeal https://t.co/FR...

Also Read: XRP Copycat Jumps 520%, Innovative Project or a Red Flag? advertisement XRP Token Holders, Not Investors Recently, US SEC chair Gary Gensler evaded a question on the Ripple lawsuit ruling citing the agency takes a collective decision with all the other commissioners. Interestingly, he repeated his warning to ‘investors’ about the Crypto Market , to which American businessman Mark Cuban took objection. He said, “(Gary Gensler) is in the habit of exclusively calling token holders investors. He knows that is incorrect, but it serves his purpose.” John Deaton: The Howey Factors Reacting to Gensler’s comment on the question of the SEC going for appeal, John Deaton , the attorney representing token holders in the lawsuit, said the judge will have a cushion of the first two Howey tests satisfying the ruling that the programmatic sale of XRP tokens to retail traders is not a securities transaction. Re...

XRP gains attention as Bitcoin sees declines in social volume, coinciding with the recovery of altcoins and the release of Hinman emails. Data shows that after Bitcoin ’s social volume experienced a slight decline in the aftermath of its latest surge, the crypto community’s attention has shifted towards XRP . The shift in focus coincides with altcoins recovery and the recently released Hinman emails . Santiment, a market intelligence platform specializing in on-chain and social metrics for over 2,500 cryptocurrencies, highlighted the shifting dynamics in a recent tweet. It noted that while Bitcoin ’s social volume witnessed a marginal decrease, alternative cryptocurrencies like XRP have seen an uptick in discussions. ️ With # Bitcoin 's social volume finally declining ever so slightly after its March ascension, #Ethereum, # XRP Network, and #BinanceCoin are now getting increased discussion. #Altcoins continue recovering by varying degrees based on crowd confidence. h...

Also Read: Ripple SEC Lawsuit Settlement Incoming With Hinman Docs Delay? advertisement With the SEC filing a complaint against Ripple over unregulated sale of XRP as securities, the company has been in the legal tussle since December 2020. However, the company enjoys strong support from the XRP token holder community as it still enjoys a top 10 ranking among cryptocurrencies based on market cap. Warren Jenson Joins Ripple The company announced that the former Amazon chief financial officer Warren Jenson will join its Board of Directors. Despite the uncertainty around the SEC lawsuit, the company has been moving forward with its product launches and expansions in the crypto solutions space. The company made the announcement in a statement: “ Ripple is excited to announce today that Warren Jenson is joining its Board of Directors. A seasoned CFO and operations leader, Jenson brings decades of experience in business at today’s most recogn...

Also Read: Ripple To Face Trouble From XRP Holders in Court? Attorney Suggests This advertisement Will Coinbase Relist XRP? According to an Amicus Curiae in the XRP lawsuit, Attorney John Deaton cleared the air over the Settlement calls. He claims that the only time a settlement would happen in this case will be after Judge Torres’s decision. However, it would be hard for the U.S. SEC Chair to agree that ongoing future XRP sales are not securities. Meanwhile, the commission is facing pressure from crypto exchange Coinbase over providing regulatory clarity regarding crypto trading and dealing. It should be noted that Coinbase delisted XRP when the U.S. SEC announced the legal actions against Ripple Labs and XRP . It would be tough for the commission to reverse its claims of the XRP after 2 years. Read More XRP Lawsuit News Here… Also Read: XRP Whales React To Ripple ’s XRP Q1 Report Trending Stories ...

A handful of cryptocurrency industry players who took part in workshops at the World Economic Forum Annual Meeting paint a picture of increased collaboration within the space in 2023. Key figures from the wider cryptocurrency space painted a picture of increased dialogue and collaboration at the World Economic Forum Annual Meeting in Davos. Cryptocurrencies and blockchain technology remained but a small part of the projects and initiatives discussed and workshopped at the annual WEF conference high in the Swiss Alps. However, an increased number of sessions focused on the sector suggests that the wider world is looking for synergies between traditional finance and decentralized finance. This theme emerged from a number of interviews conducted by Cointelegraph during January’s conference in Davos. Senior executives from XRP issuer Ripple and USD Coin (USDC) stablecoin firm Circle highlighted the importance of embracing solutions and systems that are creating tangible utility and value...