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Fortune
Fortune
Ben Weiss, Leo Schwartz

Fortress CEO Scott Purcell steps down after crypto custodian’s sale to Ripple falls through

Fortress Ripple Crypto Fortune Bitcoin Prime Trust LinkedIn

Scott Purcell, the founder and CEO of the embattled crypto custodian Fortress, has stepped down amid broader staffing issues.

The decision comes on the heels of a hacking incident in early September that saw Fortress lose between $14 million and $15 million of customer funds. Clients were later made whole by Ripple, the blockchain firm behind the popular cryptocurrency XRP.

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