Nevada regulators have issued a cease-and-desist order to Fortress Trust, a digital asset custodian recently rebranded as Elemental Financial Technologies Inc., due to severe financial instability. Court documents indicate that the company is on the brink of bankruptcy, with a substantial disparity between its assets and liabilities. The order, dated October 22, highlights that Fortress's liquidity is inadequate to fulfill customer payment obligations, prompting the regulatory intervention.