Bitget App
Trade smarter
Nevada halts operations of crypto custodian Fortress Trust, citing imminent bankruptcy
Show original
ChainCatcher reported that Nevada regulators issued a cease and desist order to cryptocurrency custody company Fortress Trust (now renamed Elemental Financial Technologies Inc.) on October 22.
According to court documents, the company is currently on the verge of bankruptcy and faces a significant mismatch between assets and liabilities. Regulators explicitly stated in the order that Fortress's liquidity position is "completely insufficient to meet customer obligations."
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
Trending news
MoreCrypto prices
More
Bitcoin
BTC
$110,558.87
+0.01%
Ethereum
ETH
$3,912.17
+0.72%
Tether USDt
USDT
$1
+0.00%
BNB
BNB
$1,107.81
-1.34%
XRP
XRP
$2.48
+3.11%
Solana
SOL
$191.46
-0.11%
USDC
USDC
$0.9998
+0.01%
Dogecoin
DOGE
$0.1959
-0.29%
TRON
TRX
$0.3041
-3.71%
Cardano
ADA
$0.6497
+0.15%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now