Matthew Mellon died in April 2018 with an estate worth approximately $200 million. Much of his wealth came from the cryptocurrency XRP, but his will did not mention his cryptocurrency
His XRP needed to be liquidated to pay his outstanding debts and taxes. However, Mellon had entered into an agreement that limited the amount of XRP that could be sold. By the end of 2019, his estate was worth less than half of the original value because the XRP had lost about two-thirds of its value.
Mellon should have crafted a plan that provided his estate with the funds to pay his obligations without relying on the XRP. His plan also should have made it easier for his fiduciaries to gain access to the XRP to start the sell-off sooner, when the value was higher.
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