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Fortress ordered to close after $11m shortfall. ‘Where was the regulator?’
Yahoo Finance· 2025-10-27 18:22
A version of this story appeared in The Guidance newsletter on October 27. Sign up here. Hey all, Liam here. For a company named after keeping treasure safe, Fortress is doing a pretty poor job of it. That’s according to Nevada regulators, who issued a cease-and-desist letter to the crypto trust company on October 22. The state revealed that Fortress maintained roughly $12 million in customer deposits, both in crypto and cash. In reality, however, the company had only $1.2 million on hand. In other wor ...