Ripple will no longer acquire Fortress Trust, CEO Brad Garlinghouse says

Quick Take

  • Ripple has decided against the outright acquisition of Fortress Trust after previously signing a letter of intent, CEO Brad Garlinghouse said.
  • Despite the change in plans, Ripple will remain an investor in Fortress and continue to support the team in the future, Garlinghouse added.

Ripple has decided against the outright acquisition of Fortress Trust after previously signing a letter of intent, according to CEO Brad Garlinghouse.

"A few weeks ago, we signed a letter of intent to acquire Fortress Trust – we’ve since made the decision not to move forward with an outright acquisition, though Ripple will remain an investor in Fortress," Garlinghouse posted on X (formerly Twitter).

"The Fortress team is incredibly talented, and has built products solving real customer problems," Garlinghouse added. "While this outcome is different from what was originally planned, we’ll continue to support them and hope to work together in the future!"

Fortress acquisition 

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