How a Cryptocurrency Fortune Crippled a Deceased Billionaire’s Estate
Why the SEC says Ripple is a security?
Most cryptocurrencies aren’t closely tied to centralized entities. Bound by an agreement Mellon had made with Ripple, the estate could only sell off a small amount of XRP each day.
The vast majority of Matthew #Mellon’s assets—more than $193 million—were locked up in a cryptocurrency known as #XRP, which is managed by the company #Ripple. His massive crypto fortune began with a $2 million investment in XRP in late 2017 after he had dabbled with Bitcoin. His enthusiasm for Ripple led him to become a “global ambassador” for the company.
There was no mention of the currency in his outdated will, and he reportedly kept the keys to it on devices under other people’s names in various locations throughout the country.
Well, it seems there are secret deals that were made for the rich bankers way back when.
SEE RichAsHell.com
Find the origin story
of #Ripple and the
#Fugger Banker
—————————————