The comment was somewhat out of character for the head of one of the largest exchanges in the world. It was essentially confirmation that BitMex does not care what cryptocurrency it lists—all it cares about is that it’s “worth more than zero.” Those are some low standards. The replies to Hayes’s comments were mostly negative, but some found the CEO’s mockery of XRP to be amusing.Is it called Ripple, XRP, or dogshit? Who knows, who cares. It’s worth more than zero so it’s time to trade the USD pair on BitMEX. Boo-Yaka-sha! https://t.co/pa3T5vd5kl
— Arthur Hayes (@CryptoHayes) February 4, 2020
Arthur finally listened to the community, let's send #XRP to sub 10 cents #Roadto10c https://t.co/SheGXqViYv
— Doria (@Doriaksl) February 4, 2020
On the flip side, those traders who believe XRP to be a cash-grab by Ripple can now more easily short it. Still, the comment by Hayes is simply bad optics for one of the largest cryptocurrency exchanges. According to CoinMarketCap, the exchange boasts some $3.3B in daily trading volume at the time of writing. It remains among the most popular exchanges for margin and futures trading. BitMEX has faced significant controversy in the past, but few were caused by its outspoken CEO directly. In November, the exchange suffered a breach that exposed the customer emails of some 40,000 users. BitMEX never thoroughly explained the cause of the breach, but it led to an exodus of users looking for alternatives, as BeInCrypto has previously reported. Hayes’s comments are a low blow to XRP, which has seen its ‘team unlocks’ every month become the butt of many jokes on cryptocurrency Twitter. Every month, 1B XRP is controversially unlocked from escrow. However, XRP is doing well on the daily charts today and is up +6.73%. Whether or not these gains will hold remains to be seen. The third-largest cryptocurrency was among the worst performers in 2019.Oh, that's classy. A comment like that has karma.
— CryptoEri (@sentosumosaba) February 4, 2020
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.