BitMEX CEO Implies Ripple’s XRP Is a ‘Turd’ Again

Arthur Hayes seems to have some issues with Ripple’s XRP, but as long as it has high trading volume, he doesn’t seem to care. In two tweets, he has referred to XRP as both a ‘sh*tcoin’ and now a ‘turd.’

BitMEX CEO Mocks XRP

As XRP continues its upward rise, Hayes has some simple advice to keep in mind for the future: “the buy and sell buttons are both equally profitable regardless of whether or not you are trading a turd.”

CRipple the shorts. Pro Tip: the Buy and Sell buttons are both equally profitable regardless of whether or not you are trading a turd. pic.twitter.com/dknaPauJM1

— Arthur Hayes (@CryptoHayes) February 13, 2020

Most of the replies seemed to add further fuel to the fire, although many criticized Hayes’s unprofessionalism. Overall, it is bad optics for one of the largest cryptocurrency exchanges in the world.

@Ripple sending thoughts and prayers

— Luke Martin (@VentureCoinist) February 4, 2020

Grow up Arthur

— Thinking Crypto (@ThinkingCrypto1) February 4, 2020

It seems that when it comes to XRP, Hayes has a bone to pick. Last week, BitMEX added a new perpetual swap on the XRP token (XRP/USD). Hayes commented on the listing by writing, “is it called Ripple, XRP, or dogsh*t? Who knows, who cares.” BeInCrypto previously covered the shocking comments. Hayes’s mockery of XRP also comes on the same day that the cryptocurrency experienced a flash crash on BitMEX. As BeInCrypto reported, XRP dropped to $0.15 suddenly today, which has left many traders upset that their stop losses failed to trigger. Thus far, BitMEX has not commented on the flash crash.

XRP Gains as Cryptocurrency Market Stalls

The message from Hayes’s two tweets seems to be that everyone acknowledges XRP is a ‘turd,’ but we trade it anyway because it has consistently high trading volume. Such an insinuation will likely offend many long-term HODL’rs who see significant promise in XRP. Though, one cannot deny that the project has become something of an in-joke among cryptocurrency commentators. The project has been criticized and ridiculed for dumping 1 billion XRP on the market every month as standard practice. XRP continues to perform well in 2020, however, despite having been among the worst last year in price activity. The cryptocurrency is up +6.89% on the daily at the time of writing and is currently trading at around the $0.317 price point. As of today, it is leading all the major cryptocurrencies in gains as Bitcoin slips -1.80%.