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CEO Brad Garlinghouse, at the helm of Ripple, took to X, their chosen platform for communication, to deliver a surprising update. In a twist of events just within 20 days of unveiling their intent to acquire Fortress Trust, Ripple, a prominent player in the financial technology sector, has decided to withdraw from the proposed transaction. In an announcement posted by Ripple ’s CEO Brad Garlinghouse on X (formerly known as Twitter), dated September 28, the unexpected decision was unveiled: “we’ve since made the decision not to move forward with an outright Acquisition .” However, it’s essential to note that Ripple is not severing all ties; they will maintain their status as a shareholder in Fortress Trust’s parent company, Fortress Blockchain Technologies. The initial revelation of Ripple’s acquisition plan on September 8 was met with widespread surprise, even among insiders at the company, as per reports from Cointelegraph. At the time, Ripple had ou...

Also Read: Terra Luna Classic Validator To Fund USTC Repeg Team As Community Rejects Proposal advertisement US SEC’s Attorney Withdraws From XRP Lawsuit In a filing dated August 23, 2022, the federal regulatory agency said that attorney Guerrier is no longer a part of the lawsuit against Ripple Labs. However, other counsels recorded previously continue to represent the agency, it said in the filing. “Ms. Guerrier is no longer participating in this matter. The SEC continues to be represented by the other counsel of record in this matter.” In this context, it is unknown as of now as to whether the attorney had asked to withdraw over disagreements with the SEC’s position. The agency officials have been at the receiving end of criticism over the stringent enforcement actions it took against crypto businesses since the beginning of 2023. On the other side, the US lawmakers have been expressing concerns on the threat of dedollarization ...

The mixed martial arts organization, Professional Fighters League, will use NFT tickets, becoming the latest sports body to explore the Web3 ticketing functionality. Nonfungible tokens (NFTs) use case as a ticketing solution continues to grow as the mixed martial arts organization, Professional Fighters League (PFL), adopts the technology. The PFL, which Features a season format that differs from the massively popular Ultimate Fighting Championship, has partnered with Web3 firm CrossTower to roll out NFT ticket s powered by Ripple’s XRP Ledger. The launch of the ticket s will coincide with the start of the 2023 fighting season and marks the fifth year since the PFL began. An announcement shared with Cointelegraph highlighted many exclusive add-ons included in the NFT VIP tickets, including cage-side seating, attendance of pre-fight weigh-ins, meet and greets with fighters from the PFL, ring walk experiences and more. Related: Beyond collectibles: How NFTs are revamping the ticket in...