Fortress

<p>The post <a rel="nofollow" href="https://coinpedia.org/news/xrp-news-legal-expert-john-deatons-take-on-ripples-resilience-amid-sec-lawsuit/">Ripple To Cover Fortress Trust Losses: Deaton Reacts As Community Applauds Move!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/news/ripple-vs-sec-update-former-sec-expert-analyzes-ripples-appeal-chances/">Ripple</a>, a major player in the cryptocurrency space, is grabbing headlines for its strategic move involving <a href="https://coinpedia.org/news/ripples-acquisition-spree-continues-as-it-snaps-up-fortress-trust-after-250m-metaco-deal/">Fortress Trust</a>. The company has decided to compensate Fortress Trust customers for their losses stemming from a security mishap, despite facing significant legal challenges.</p> 
<p>This decision is particularly noteworthy given the high legal fees Ripple has been paying. The company has already spent $200 million defending itself against a lawsuit from the Securities and Exchange Commission (SEC). Ripple’s willingness to cover Fortress Trust’s customer losses is a sign of its commitment to its clients.</p> 
<p>Read More: <a href="https://coinpedia.org/news/xrp-news-ripples-nevada-trust-license-pursuit-through-fortress-acquisition/">Ripple’s Fortress Trust Acquisition: Here’s How It’s a Win-Win for All</a></p> 
<h2 id="ripple-lauded-as-a-hero" data-name="ripple-lauded-as-a-hero" class="wp-block-heading">Ripple Lauded as a Hero</h2> 
<p><a href="https://coinpedia.org/news/ripple-vs-sec-update-sec-accused-of-keeping-key-xrp-memo-hidden/">John Deaton</a>, a legal expert in the cryptocurrency space, praised Ripple’s decision in a post on XRP. He noted that Ripple has been under a lot of pressure, especially due to the SEC lawsuit. Deaton also said that Ripple’s decision to compensate Fortress Trust customers shows that the company is resilient and committed to its clients.</p> 
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   <p lang="en" dir="ltr">It is sad and ironic that <a href="https://twitter.com/SBF_FTX?ref_src=twsrc%5Etfw">@SBF_FTX</a> was heralded as Crypto’s Savior, while some in the industry, including customers or proponents of Fortress, like <a href="https://twitter.com/coryklippsten?ref_src=twsrc%5Etfw">@coryklippsten</a>, accused <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw">@Ripple</a> and <a href="https://twitter.com/bgarlinghouse?ref_src=twsrc%5Etfw">@bgarlinghouse</a> of being the bad guys, despite a 2 1/2 year extensive SEC investigation that… <a href="https://t.co/FrCg9FD54Z">https://t.co/FrCg9FD54Z</a></p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1701287959503261915?ref_src=twsrc%5Etfw">September 11, 2023</a>
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<p>Deaton also shed light on Ripple’s impressive endurance, raising questions about how many other firms could withstand a grueling 30-month-long investigation.</p> 
<h2 id="the-market-reacts" data-name="the-market-reacts" class="wp-block-heading"><strong>The Market Reacts</strong></h2> 
<p>The market has reacted positively to Ripple’s decision. XRP’s trading volume has surged by nearly 150% in the past day. While <a href="https://coinpedia.org/price-analysis/is-xrp-price-due-for-a-rebound-analyst-maps-next-levels/">XRP’s price</a> has dipped slightly from $0.49 to $0.48, its trading volume is now at an impressive level of $1.3 billion.</p> 
<p>Also Read: <a href="https://coinpedia.org/altcoin/crypto-market-prediction-analyst-maps-buy-levels-for-bitcoin-and-major-altcoins/">September Doom to Present Massive Buying Opportunity for Bitcoin and Altcoins; Expert Maps Levels</a></p> 
<p>Ripple has not disclosed the financial details of the acquisition, but it has said that it plans to make further investments in Fortress Trust’s parent company. This suggests that the acquisition is not a one-off event, but part of a broader, long-term growth strategy.</p>

Ripple To Cover Fortress Trust Losses: Deaton Reacts As Community Applauds Move!

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