XRP United Exchange to Cease All Operations on July 1 Due to the Passing of One of Its Leaders


Crypto exchanges are not having it easy despite the latest bull run. XRP centric exchange seems to be the latest victim that has fallen.

The operations will cease on July 1st while they will stop accepting fund deposits from 15th June. A Twitter user pointed out the reason behind it. He says:

“Ripple turned XRP traders into XRP Holders with all these riddles and bullish news… No one wants to trade XRP hence no way for exchanges to make enough $ off XRP.”

Many people were excited about the exchange with the intro video promising a Lambo for one lucky winner. They seem to be disappointed. A few people think that they came in too early to the party and if they would have come in a year or two, they would have been successful.

It has been speculated that this might be due the sad f the untimely demise of the co-founder and partner of the firm @p3_ris. Soon after the announcement that revealed the exchange shutting down, they Tweeted:

“It is with great sadness and sorrow that XRP United teams announce the passing away of P3T3RIS @p3_ris , a key member of the XRP community and a great visionary… We kindly ask you to take a moment to remember him. Thank you on behalf of the entire XRP United team.”

Regarding the hardships of running a crypto exchange, Peter McCormack, the former CSO of Bitfinex had said:

“All the other exchanges had some kind of Nexus somewhere there, based somewhere and a bunch of kids in an office coding away or doing KYC. But Bitfinex was very much decentralized company, for you know to trade decentralized currencies.”

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