Independent Reserve CEO Adam Tepper has died as a result of a motorbike accident in Thailand. Tepper, who is alleged to have not been wearing a helmet at the time of the accident, either struck his head on a street sign early Thursday morning according to the Phuket Gazette1 or slammed into a parked trailer Wednesday night as reported by the mainstream Australian television network 7News. Captain Thada Sodarak of the Chalong Police said:

"Mr Tepper was not wearing a helmet and struck his head on the sign – he died instantly, I believe he was moving very fast at the time of the crash, as part of the sign pole was buried a meter underground, and it was pulled out by the impact."

There is also some confusion as to where Tepper's body is currently located. The Phuket Gazette states his body was taken to Vachira Phuket Hospital while the 7News report states it was taken to Thalang Hospital.

Independent Reserve launched in October of 2014 but since that time has failed to achieve any significant trading volume.