Cryptocurrency billionaire Matthew Mellon dies at a rehabilitation center

Express News

By Reuters News|Updated: April 17, 2018

Matthew Mellon, centre, at a Dom Perignon celebration in Miami in 2015

Matthew Mellon, cryptocurrency investor and successor to among the most thriving banking fortunes, has actually passed away in a rehabilitation center in Mexico at age 54, inning accordance with several sources. His death was later on verified by his cousin Peter Stephaich, who decreased to offer information.

Mellon stated he would be inspecting into rehabilitation in 2016 soon after revealing he and his 2nd spouse were going through a divorce. That exact same year, he confessed spending $100,000 a month on his dependency to OxyContin. Mellon claims to have taken 80 pills a day when he checked himself into the Passages treatment center in Malibu, California.

Mellon, a previous chairman of the New York Republican Party’s financing committee, stated he got hooked after a browsing injury when physicians recommended OxyCotin “like they were Smarties.”

Mellon came down from 2 effective banking companies. His dad established Mellon Bank, now part of BNY Mellon, while he was related on his mom’s side to Anthony Joseph Drexel, co-founder of Drexel Burnham Lambert, the now-defunct bank popular for pioneering junk bonds. When he was 21 years old, Mellon acquired 13 trust funds beginning with a $25 million allowance.

The popular figure made his own fortune over the last few years off cryptocurrency, buying Ripple and its token XPR. Ripple is now the 3rd biggest cryptocurrency behind Bitcoin and Etherium, inning accordance with CoinMarketCap.

The cryptocurrency was pointed out in a declaration launched by an agent for the household.

” Matthew Mellon, 54, passed away unexpectedly in Cancun, Mexico, where he was participating in a drug rehab center. Mellon made his fortune in cryptocurrency, turning a $2 million financial investment into $1 billion,” the declaration stated.

Mellon stated his household, who believed he was “crazy” because of his drug dependency, had actually attempted to prevent him from purchasing cryptocurrency. He did anyhow, putting millions in Ripple, which he felt was among a couple of digital coins that attempted to work within the existing banking systems. Mellow supposedly made near $1 billion dollars off Ripple’s success, inning accordance with a Forbes profile of the wealthiest individuals in cryptocurrency.

It’s anti-America,” Mellon informed Forbes previously this year. That’s why I went with Ripple. It’s $1 billion essentially for complimentary.

Information about his death have actually not yet been validated

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