Scott Purcell resigns as Fortress Trust CEO after Ripple sale collapse
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...